Aged Care Finance in Port Macquarie
Serving Tuncurry, Forster, Taree, Port Macquarie and surrounding areas.
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Guiding Port Macquarie families through aged care with clarity.
Aged Care Guidance You Can Trust
At Midcoast Financial Planning Group, residents of Port Macquarie can access structured advice for navigating the financial side of aged care. Our aged care financial advice includes reviewing funding options, understanding means testing, assessing Centrelink impacts, and planning for residential care costs. We use licensed financial tools to calculate potential scenarios and provide written documentation outlining the financial implications of different choices.
Every step of the process is transparent, with all recommendations clearly explained and recorded. The Port Macquarie team prioritises clear communication, accuracy and ongoing support for individuals and families making important care-related financial decisions.
For structured aged care financial guidance in Port Macquarie, contact 1300 854 764 to book a consultation.
Helping You Navigate the Details
Our aged care service has been designed with compliance and understanding in mind. We begin with a review of assets, income, and care requirements to determine how government fees, accommodation payments, and subsidies may apply.
Detailed modelling software is used to calculate outcomes under various care arrangements, including how each scenario may affect the Age Pension and cash flow. All advice is documented in a formal Statement of Advice (SOA), outlining costs, legislative references and data used in assessments.
You will be given the opportunity to ask questions and review information thoroughly before any decisions are made. Regular reviews are available to maintain continued accuracy as personal circumstances or regulations change.
The Port Macquarie team maintains consistent communication, providing factual, industry-informed guidance throughout every step of the process. Every recommendation is supported by accurate data, transparent documentation and a focus on compliance.
Our Process
Our Proven Process helps us get to know you – your passions, goals, needs and wants. From there, we develop a customised financial plan that adapts and changes as your life progresses.
Step 1
Discovery Call
Let's have a quick chat to see how we can work together to help you achieve your goals.
Step 2
Gather Data
We gather data about all aspects of your financial situation so we take a comprehensive look at your life and finances.
Step 3
Financial Plan
We create a personalised financial plan that will serve as a roadmap towards your goals.
Step 4
Implementation
We set your financial plan in action by implementing all your personalised strategies.
Step 2
Step 4
Frequently Asked Questions
What are the different types of aged care fees?
Aged care fees are typically divided into four main categories: the basic daily fee, the means-tested care fee, the accommodation payment, and additional service fees. The basic daily fee covers standard living expenses like meals and cleaning, while the means-tested care fee is based on income and assets. Accommodation payments can be made as a lump sum (RAD), a daily fee (DAP), or a combination of both. Additional service fees apply for optional extras, such as premium meals or private rooms.
How does the means test affect aged care costs?
The means test combines income and assets to determine how much a person contributes toward their aged care costs. Assets like property, savings, and investments are assessed alongside income sources such as pensions or annuities. The government sets thresholds that determine whether an individual pays the full amount, a partial contribution, or receives a subsidy. The means test is conducted by the Department of Human Services, and results can affect both daily care and accommodation fees.
Can a person keep their home when moving into aged care?
In many cases, individuals can keep ownership of their home when entering residential care, although it may still be included in the means test depending on who remains living there. If a spouse or dependent continues to reside in the property, it’s usually exempt from assessment. However, if the home is unoccupied or rented, part of its value may be counted toward the asset assessment. Decisions regarding the home should consider financial, tax, and family factors.
