Interest rates for Residential Aged Care

An update of the schedules for residential and home care fees and charges will take effect from 1 January 2021.

Date published:
Type:
Subscriber announcement
Audience:
Health sector

Schedule of fees and charges that will take effect from 1 January 2021
An update of the schedules for residential and home care fees and charges will take effect from 1 January 2021.

View the updated Schedule of Fees and Charges for:

Services Australia’s quarterly review of fees and charges for all aged care recipients will take effect from 1 January 2021. Aged care recipients and providers will receive letters letting them know if there is a change to a care recipient’s fees and charges or if a refund may be due.

MPIR from 1 January 2021

The maximum permissible interest rate (MPIR) will decrease to 4.02% for the period from 1 January to 31 March 2021 for calculating:

  • accommodation prices
  • interest on refunds of accommodation lump sum balances

View current and past MPIRs.  

Providers must ensure:

  • their published accommodation prices on the My Aged Care website are up to date. If you have any questions call the My Aged Care service desk on 1800 836 799
  • the accommodation prices published on their own website and in relevant written materials are up to date.

Department of Health