Rizna Mutmainah
Retirement Income

Historic Aged Care Bill passes Parliament

Older Australians will now receive greater support to live at home for longer among other reforms to aged care. 

On Monday, the Albanese Labor Government's Aged Care Bill passed Parliament, meaning that older Australians and their loved ones will have access to a better quality system. 

The bill will provide in-home help and improve conditions and protections for those living in aged-care facilities from July, with older people and their loved ones having a greater say about the care and services they receive.

These include protections to speak up when they're not satisfied with a service, and better equipping providers to handle complaints more effectively. 

Around 1.4 million Aussies will receive support for nursing, occupational therapy and day-to-day tasks to help them live independently in their homes by 2035. 

The new $4.3 billion Support At Home system has been put in place with the hopes of improving home care wait times and will provide for home modifications and assistive technology to help older Australians maintain their independence for longer. 

The $5.6 billion package will be one of the largest improvements to the sector in 30 years, according to Aged Care Minister Anika Wells.

“This act means that people will be the beating heart of a strengthened aged-care sector that replaces fear with trust,” she said. 

To help fund the cost of care, those not already in aged or home care will have to make contributions for non-clinical care costs, but the amount they pay would depend on their income and assets. 

The most anyone would pay for these independence and everyday living costs would be e $130,000 after the the lifetime contribution cap was raised from $76,000.

The Commonwealth will remain the main funder of aged care. 

While the government will spend $930 million over the next four years, the new structure will save the budget $12.6 billion over the next 11 years.

Image: Shutterstock

Tags:
Money & Banking, Retirement Income, Finance