Asset Testing of Older People to be Removed
21 April 2003by Tess Casey
The government has announced that it will progressively remove asset testing of older people in long-term residential care from ...
1 July 2005. The new policy will apply to all new admissions and to people already in care who are not currently eligible for a residential care subsidy. Around 5 600 additional people are expected to receive the subsidy from 1 July 2005, taking to 70% the proportion in care who receive the subsidy. The policy is expected to cost $103 million in 2005/06, rising to $163 million in 2010 and $345 million in 2020. Legislation to remove asset testing will be introduced later this year. Public submissions will be called for at that time.
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