Aged Care Alert – September 2023 indexation: updated schedules, quarterly review and change to maximum permissible interest rate

Updated Schedules for residential and home care will apply from 20 September 2023.

Date published:
Subscriber announcement
Health sector

Updated Schedules

Updated Schedules for residential and home care will apply from 20 September 2023.

View the updated Schedule of fees and charges for care recipients who started care:

View the updated Schedule of subsidies and supplements.

Quarterly review

Services Australia’s quarterly review of residential and home care fees will take effect from 20 September 2023, updating care recipients’ fees to align with any changes in their financial circumstances.

The quarterly review for residential and home care will take place on 23 September 2023. The online claiming system for home care and residential care will be unavailable from 6pm Friday 22 September to 8am Monday 25 September.

Care recipients and providers will receive letters advising any fee changes or refunds resulting from the quarterly review.

View more information for residential care and home care on the Services Australia website.

Change to maximum permissible interest rate (MPIR)

The MPIR will increase to 8.15% for the period 1 October to 31 December 2023 for calculating:

  • residential care accommodation prices
  • interest on refunds of accommodation lump sum balances.

View current and past rates.

What you need to do

Providers must ensure accommodation prices are correct and up to date on their website and printed materials, and on the My Aged Care website. For assistance contact the service desk on 1800 836 799.

Providers publishing or charging accommodation prices over $550,000 must also ensure they have a valid approval to charge this amount from the Independent Health and Aged Care Pricing Authority (IHACPA) or the former Aged Care Pricing Commissioner. Approvals expire after 4 years. Providers need to renew their approvals if they want to keep charging over $550,000. For more information visit the IHACPA website.