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A Life Chapter When More Support Is Required- Quick Questions With An Aged Care Expert

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At Chapters Retirement Partners we help people to retire in financial comfort. We do this by assisting our clients to make decisions that will enable them to enjoy more of what they value in life and equip them with the tools they need to ‘finish strong’.

As specialist retirement advisers, our clients or their parents/ family will need to consider and navigate the Aged Care system.

That’s why we partner with specialists in this area who are available to our clients and business partners- like Corinne Gepp. Corinne is a licensed Financial Adviser who operates her own practice and is also part of our same network of financial advisers- Affinia.

Corinne specialises in aged care advice and our adviser Chris Brown recently asked Corinne a range of questions relating to Aged Care- her answers are below in italics.

What is meant by Aged Care?

Aged care is a term that covers the provision of care services to older Australians. The care services could be delivered at home, or in an aged care facility on a permanent residential basis. A critical part of the aged are system is the ACAT (Aged Care Assessment Team). An ACAT assessment is essential to enable access government-subsidised services.

Home care support is based on the amount of support needed, and the funding packages range from Level 1 to Level 4.

Entry to residential care is also based on clinical need and ACAT approval must be sought before seeking admission.

At what age should I be thinking about Aged Care?

That is a great question. The best time to be thinking about aged care is at retirement. This can be a conversation with your spouse or family members about your preferences and expectations for later life, and reviewing your estate planning. The next best time is if your health changes or you find that being independent is getting harder. If there is a diagnosis of cognitive decline or dementia, it is essential to act immediately.

If you notice that your parents are showing signs of poor health or are having trouble taking care of themselves, you should seek advice as soon as possible and start the conversation with them.

What is the average age that you help clients in this area?

I mainly work with people in their forties, fifties and sixties who are responsible for helping their parents. The average age of clients receiving home care packages is mid-seventies, and the average age of clients who are entering aged care would be mid-eighties.

Are there strategies to improve Aged Care outcomes?

Yes, there are a number of strategies that can improve aged care outcomes, depending on the circumstances.  These strategies could reduce fees and/or increase age pension entitlements. People should always seek advice before signing a contract with an aged care facility or selling any assets so that the widest range of strategies can be considered.

 Do I need to sell my family home when moving into Aged Care?

Not necessarily. It’s not compulsory to pay the Refundable Accommodation Deposit in full or up front. Usually, if one spouse is entering care and one is staying in the family home, you probably wouldn’t need to sell the house. In other cases, selling the home might be the better option. People should seek aged care advice before selling the family home.

Are there options where someone can live at home for longer?

Yes, there are. Many people use government-funded home care packages to help them to stay at home for longer. An ACAT assessment will determine which package is appropriate. Packages are funded from Level 1 through to Level 4 and the use of the package funds is tailored to the individual’s needs, such as assistance with daily living, social support, mobility aids or home modifications.

What is the difference between a Retirement Village and Aged Care Facility?

They are very different from each other. A Retirement Village is a private residential development usually restricted to people aged 55 and over. The units can be bought and sold at market prices, and there is no need for any type of health assessment before purchase. An Aged Care Facility, or nursing home, is limited to people whose ACAT assessment approves entry to residential care. Fees are regulated and means-tested, and the facilities are regularly monitored for compliance with care standards. They are also constructed to government standards.

 How do the NDIS and Aged Care systems intersect?

There is some intersection between the NDIS and the aged care system, but the NDIS is only available to people under 65.

Residents of aged care facilities who are under 65 are eligible for the NDIS. The Federal Government is working towards moving aged care residents under 65 to more age-appropriate facilities by 2025, if they wish to move.

With the increase in early onset dementia, the NDIS can provide resources for care and assistance outside of aged care pathways.

Is there any advantage to limiting the accumulation of wealth before or in retirement- in order to gain advantages when entering Aged Care?

No, there’s not really any benefit, for a number of reasons.

Everybody pays the same Basic Daily Fee regardless of their financial situation. The Means-Tested Fee has both an annual cap and a lifetime cap so when the lifetime cap has been reached, the fee no longer applies. Third, if you have modest financial means and are classified as a Supported Resident, you may find that you can’t secure a place in the facility of your choice.

I would encourage everyone to keep to their accumulation and retirement plans to maintain their lifestyles and enable more choices for residential aged care.

 

If you need you would like to discuss Aged Care relating to you or your family- please contact us at Chapters Retirement Partners and we will ensure you receive the assistance you need.

 

 

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Privacy Policy

Privacy Policy

1. Introduction

1.1 Count Limited and its related bodies corporate (collectively ‘Count’, ‘we’, ‘us’, ‘our’) respect your privacy and are committed to protecting your privacy. We understand the importance you attach to information that identifies you (your ‘personal information’) and we want to help you protect it.

1.2 We are bound by, and committed to supporting, applicable privacy legislation including the Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs). This Privacy Policy (‘Policy’) explains how we collect, hold, use, and disclose your personal information that we may obtain when you submit information to us in person, by mail or email, or by visiting our website.


2. How do we collect and hold personal information about you?

2.1 We collect personal information from you in a variety of methods. Examples of how we collect personal information include: 

  • Through communications between you and our representatives or your adviser or accountant;
  • Your use of our website;
  • Completing application forms in relation to products and services;
  • Other avenues, where required to meet regulatory requirements and comply with the law;
  • When you apply for employment with us;
  • Through marketing activities which request information from you, such as surveys.

2.2 Because our products and services are often offered by intermediaries such as financial planners, solicitors, or accountants, we may collect personal information about you from these third parties.

2.3 You can deal with us anonymously or by pseudonym unless it is impractical for us to deal with you where you have not identified yourself or have used a pseudonym. We require certain personal information to provide you with services and information. If you do not provide us with certain personal information, we may not be able to provide you with access to those services or respond to your request for information.

2.4 We will only collect personal information from you where it is reasonably necessary for us to provide our services to you or to perform our functions or activities.

2.5 We will only collect sensitive information from you with your consent, except in permitted general situations which include:

  • The collection of the information is required or authorised by or under an Australian law or a court/tribunal order;
  • The collection is necessary to address a threat to an individual’s life, health, or safety; and
  • Permitted health situations.

2.6 We may hold your information electronically or physically and have in place appropriate data and physical security measures and protocols to protect that information from loss or from disclosure not contemplated by this Policy.


3. What type of personal information do we collect?

3.1 The type of personal information we may collect from you includes (but is not limited to):

  • Names, address, email, phone numbers, and job titles;
  • Information in identification documents such as your passport or driver’s licence;
  • Tax file numbers (TFNs) and other identification numbers such as Medicare number;
  • Date of birth and gender;
  • Financial information;
  • Details of superannuation and insurance arrangements;
  • Sensitive information (with your consent), such as health information or membership details of professional or trade associations or political parties;
  • Bank account details, shareholdings, and details of investments;
  • Educational qualifications, employment history, and salary;
  • Visa or work permit status;
  • Personal information about your spouse and dependants.


4. How do we use your personal information?

4.1 We will use the information you supply for the purpose of providing you with the service(s) agreed under our engagement and related services, such as accounting or business advisory services, or to meet obligations we may have at law, including in relation to health and safety.

4.2 We may also use the information we collect for our internal business and management processes (for example, accounting or auditing purposes), monitoring and improving our website, keeping you informed about our services and company news, and for any other purposes that would be reasonably expected by you and to allow us to comply with our obligations under the law.

4.3 We may also use personal information we have collected from you for the purpose of marketing our services. If you do not want to receive marketing material from us, you can unsubscribe by contacting us as detailed below:

  • For electronic communications, you can click on the unsubscribe function in the communication;
  • For hard copy communications, you can email us using the details in the ‘How to contact us’ section of our website informing us that you wish to unsubscribe http://www.count.au/Contact-Us.


5. How do we disclose your personal information?

5.1 Your personal information will only be disclosed:

  • To our employees, contractors, consultants, dealers, agents, or advisors as required to provide our services to you or for related purposes;
  • To suppliers and service providers (for example, accounting or auditing service providers or our website hosting service providers) in connection with our provision of services to you;
  • Where you have consented to the disclosure;
  • Where required or authorised to do so under an Australian law, court or tribunal order, or other governmental or regulatory body or agency;
  • In permitted health situations;
  • If we believe that the use or disclosure of the information is reasonably necessary for enforcement-related activities conducted by, or on behalf of, an enforcement body; or
  • In connection with an actual or proposed sale, reorganisation, or transfer of all or part of our business, including as set out in clause 16.1.

5.2 We may use, store, process, or back-up your personal information on servers that are located overseas (including through third-party service providers). The privacy laws in other countries might not be the same as in Australia. However, where we provide your personal information to third parties overseas, we will take such steps as are reasonable to ensure that your information is handled and stored in accordance with Australian privacy laws and this Policy. Currently, we use outsourced service providers in the Philippines, India, and Serbia.


6. Access to your personal information

6.1 You can request us to provide you with access to personal information we hold about you by sending us an email: privacy@count.au (no spam please) or writing to us at Level 1, 45 Clarence Street, Sydney NSW 2000.

6.2 We may allow an inspection of your personal information in person, or provide copies or a summary of relevant documents, depending on what is the most appropriate in the circumstances. Any charge we make for providing access will be reasonable and will not apply to lodging a request for access. Your request to access your personal information will be dealt with in a reasonable time.

6.3 Note that we need not provide access to personal information if a request is frivolous, or where to provide access would pose a threat to health or public safety, unreasonable interference with another person’s privacy, or be a breach of the law. If we refuse access, we will provide you with reasons for doing so.


7. Accuracy and correction

7.1 To enable us to keep our records properly, please notify us if you believe that any information we hold about you is inaccurate, incomplete, or out of date and we will take reasonable steps, in the circumstances, to ensure that it is corrected. You can notify us by sending us an email: privacy@count.au (no spam please) or writing to us at Level 1, 45 Clarence Street, Sydney NSW 2000.


8. Our security procedures

8.1 We take your privacy and the privacy of our associated entities and their clients very seriously. We will take reasonable steps in the circumstances to protect any personal information you provide to us from misuse, interference, or loss and unauthorised access, modification, and disclosure.

8.2 We will also deidentify and destroy the personal information we hold about you once our legal obligations cease. Our security procedures are reviewed from time to time and we update them when relevant.

8.3 Please be aware that the transmission of data over the internet is never guaranteed to be completely secure. It is possible that third parties not under our control may be able to access or intercept transmissions or private communications without our permission or knowledge. We take all reasonable steps, in the circumstances, to protect your personal information. However, we cannot ensure or warrant the security of any information you transmit to us. Such transmissions are done at your own risk.


9. Data breach notification

9.1 We are required to give notice to the Office of the Australian Information Commissioner (OAIC) and affected individuals of an “eligible data breach”. This means that if we hold personal information about you, and there is unauthorised access to or disclosure of your personal information, and if you, as the “affected individual” would be likely to suffer serious harm from this access or disclosure, we must notify both you and the OAIC.

9.2 “Serious harm” could include identity theft, threats to physical safety, economic and financial harm, harm to reputation, embarrassment, discrimination, or harassment. The test is whether a “reasonable person” would expect you to suffer serious harm.

9.3 If you are likely to suffer serious harm from a data breach, we will notify you of:

  • The nature of the eligible data breach (i.e., how the information was accessed or disclosed);
  • The type of information that was accessed or disclosed;
  • The steps that we have taken to control or reduce the harm, and those that we plan to take;
  • Any assistance we can offer you, such as arranging for credit monitoring;
  • Anything that we can suggest you can do to assist yourself or mitigate the harm;
  • Whether the breach has also been notified to the OAIC;
  • How you can contact us for information or to complain; and
  • How to make a complaint with the OAIC.

9.4 We will notify you using the same method that we usually use to communicate with you. If it is not practicable for us to notify you personally, we will publish the notification on our website.

9.5 There are some circumstances in which we do not have to notify you of a data breach. These include:

  • Where we have taken remedial action before any serious harm has been caused by the breach;
  • If you have been notified of the breach by another entity;
  • If notification would be inconsistent with Commonwealth secrecy laws; or
  • Where the OAIC declares that notification does not have to be given.

9.6 Depending on the nature of the breach and the harm, we may voluntarily inform other third parties such as the police or other regulators or professional bodies.


10. Identifiers

10.1 We will not adopt as our own any government identifiers you may provide to us such as TFNs and will not store these identifiers on any information.


11. Links to other sites

11.1 We may provide links to other sites for you to access. You should be aware that these other sites are not subject to this Policy or our privacy standards and procedures. You will need to contact them directly to ascertain their privacy standards.


12. Cookies

12.1 Our website may deposit “cookies” on a visitor’s computer. Cookies are pieces of information that a website transfers to an individual’s hard drive for record-keeping purposes. Cookies are only sent back to the website that deposited them when a visitor returns to that site.

12.2 Cookies make it easier for you by saving your preferences while you are at our site. We never save personal identifiable information in cookies. Most web browsers are initially set up to accept cookies. You can, however, reset your browser to refuse all cookies or to indicate when a cookie is being sent.


13. Changes to our Privacy Policy

13.1 From time to time, we may vary this Policy for any reason. We will publish any changes on this website.

13.2 By continuing to use our website and continuing to provide us with your information, you confirm your acceptance of these changes.


14. Complaints resolution

14.1 We are committed to providing a fair and responsible system for the handling of complaints from parties whose personal information we hold. If you have any concerns regarding the way we have handled your privacy, please send us an email at privacy@count.au or write to us at Level 1, 45 Clarence Street, Sydney NSW 2000. We will address any concerns you have through our complaints handling process and we will inform you of the outcome of your complaint within a reasonable timeframe.

14.2 If after receiving our response, you still consider that your privacy complaint has not been resolved, you may refer your concerns to the Office of the Australian Information Commissioner at www.oaic.gov.au.