Aged care gets a boost with 23,000 additional home care packages. This is great news for the 100,000 Australians on the waiting list for packages.  What else is in the 2020 Federal Budget Summary for aged care?

Social Security and Aged Care

Aged care support for older Australians

From 2020/21, the Government will provide 23,000 additional home care packages across all package levels.

$250 economic support payments.

In addition, two tax-free economic support payments will be paid to aged pensioners, veterans and eligible concession card holders.  The first payment will be made in November 2020.  After that, the other will be in early 2021.

Aged care support for older Australians

From 2020/21 the Government will provide 23,000 additional home care packages across all package level. This will reduce
the waiting time for the 100,000 older Australians waiting for their packages to be funded.

The Commonwealth Continuity of Support Program will be replaced with a new ‘Disability Support for Older Australians’.
This will allow older disabled Australians who are ineligible for the ‘National Disability Insurance Scheme’ to receive
continued support.

What’s next?

In conclusion, most changes must be legislated and passed through Parliament before they apply. If you are impacted by the Budget’s proposed changes, seek professional advice. A financial adviser provides a clear understanding of where you stand and how you can manage cash flow, super and investments.

Further information can be found via the following link: Federal Budget 2020 How retirees may be affected.

Does the Federal Budget Summary for 2020 raises questions, concerns or opportunities for you? Contact us at Trusted Aged Care Services on 07 5610 4909 to discuss.