“Carers and financial advisers contemplating moving loved ones or clients into aged care must act quickly now to avoid harsher income treatment and reduce the impact of new fees,” said a statement issued by Austock Life yesterday.
“Grandfathering provisions means those going into aged-care accommodation have until 30 June to do so under the old rules.”
Austock Life’s Richard Atkinson said “it’s important that anyone contemplating entering aged age any time soon fully understands what impact new rules will have on the both the cost of care and their age pension, plus any other financial implications”.
First paragraph – [b][i]”FOFAs grandfathering provisions may have implications for the provision of specialist aged care financial advice, according to Austock Life.”[/i][/b]
FOFA is irrelevant for the pre and post 30 June 2014 entry analysis so perhaps worth getting rid of the FOFA reference.
I think its more cost effective and better service if old people engage their own aged care provider and stay at home.