Aged Care Financing Authority Established
The Australian Government’s aged care reforms have taken a major step forward with the establishment of the Aged Care Financing Authority (ACFA).
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1 August 2012
The Labor Government’s aged care reforms have taken a major step forward with the establishment of the Aged Care Financing Authority (ACFA).
Minister for Ageing Mark Butler today said the new body would advise on pricing and financing issues across the aged care sector.
The Chair and Deputy Chair are independent appointments with Ms Lynda O’Grady to Chair the Authority and Professor Graeme Hugo to be Deputy Chair.
Other ACFA members are Mr Ian Yates, Mr Nicolas Mersiades, Ms Sue Lines, Mr Paul Gregersen and Ms Sally Evans.
Mr Butler said the Aged Care Financing Authority can now begin its immediate role of ensuring investment confidence in the sector.
“The members of the Authority have substantial experience and significant standing across a variety of industries, including the aged care sector.”
“The Government has worked with providers, financiers and consumer representatives to make sure the scope of the Aged Care Financing Authority is sufficient to meet investment needs and provide value for money for consumers.
“The Aged Care Financing Authority will provide independent advice to the Government on pricing and financing issues, informed by consultation with consumers, and the aged care and finance sectors,” Mr Butler said.
The Authority is part of the $3.7 billion Living Longer Living Better aged care reform package introduced in April this year.
Mr Butler said that Living Longer Living Better will deliver more support and care in the home, better access to residential care, more support for those with dementia and strengthen aged care.
“With the introduction of this package we are building a better, fairer, sustainable and nationally consistent aged care system to meet the modern expectations of older Australians.”
The establishment of the Aged Care Financing Authority comes on the same day as the Government announced the remaining members of the Aged Care Reform Implementation Council, which will guide the implementation of the broader aged care reforms.
For more information, please contact the Minister’s Office on 02 6277 7280
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