Can Aged Care Impact my Centrelink or DVA?

Yes, moving into an aged care facility can have an impact on a family member's Centrelink or Department of Veteran Affairs (DVA) entitlements.

Did you know that the rules changed for the former home regarding the Centrelink's assets test and rental income?

You also need to understand the impact of selling or retaining the family home – this does require specialist financial advice as all scenarios need to be reviewed prior to making this important decision. The home for new residents entering aged care from January 1, 2017 will be assessed after 2 years by Centrelink. This can change the affordability of keeping the family home substantially.

If you rent the home, this will also count towards the pension income test effect your Age Pension payment.

$$$$$$ Thousands of dollars can be lost or gained if you make financial choices without understanding Centrelink/DVA implications.

Do you know the impact on Centrelink/DVA payments if you keep, rent or sell the family home?

PrimeCare specialise in illustrating these differences to you.

The Maze of Centrelink/DVA Paperwork!

If you move into an aged care facility and you pay a part or full RAD deposit, sell the family home or make any financial change then you need to advise Centrelink or DVA. Centrelink or DVA will adjust your payment and a new fee notification regarding your means tested care fee will be issued.

  • Haven't got time standing in queues for hours or waiting on the phone?
  • Confused on what forms you should fill in and what information is required?
  • Are you receiving the correct Centrelink/DVA payment and paying the correct means tested care fee?

PrimeCare has a dedicated "Centrelink/DVA Assistance Service". We assist you with your Centrelink/DVA applications, assets and income forms! We ensure your aged pension payment matches your actual financial situation and you are not being under paid.

 Call PrimeCare Financial Planning today for specialist Aged Care advice, on (03) 9006 1736