Simplifying residential aged care funding

Understanding how to fund residential aged care can be overwhelming. At Oxa Care, we provide a range of options to suit your financial needs, whether through government funding, private funding, or other tailored solutions. Our team is here to help you make informed decisions and confidently access the care you need. 

A smiling elderly couple sits with a financial advisor, reviewing documents together. The woman leans affectionately on her partner’s shoulder while the advisor gestures towards the paperwork.

Funding options for residential aged care

When considering residential aged care in Melbourne, there are many different funding options available to help you cover the costs. These may include funding from personal savings, government funding, superannuation, equity release options such as reverse mortgages, or financial contributions from family members."

Government funding may also be available, but eligibility depends on individual assessments. Understanding your options ensures you can access the right care without financial stress.

Oxa Care physiotherapist working with a resident
Option 1

Retirement savings and superannuation

Superannuation and savings are commonly used to fund aged care. Whether withdrawing a lump sum or keeping funds in a pension account, exploring the best option for your financial situation is essential.

Taking out a lump sum

A lump sum from your superannuation can help pay for aged care upfront, including refundable accommodation deposits (RAD).

Keeping super in a pension account

Leaving your super in a pension account allows for regular income payments, helping cover daily aged care fees while maintaining financial flexibility.

Keeping super in the accumulation phase

If you’re still working or not drawing from your super, keeping funds in the accumulation phase may allow for further growth before accessing them for aged care.

Option 2

Equity release options

Equity release allows you to unlock the value of your home to help fund aged care. Whether through a reverse mortgage, government schemes, or downsizing, these options provide financial flexibility while ensuring you can access the care you need.

Reverse Mortgage

A reverse mortgage lets you borrow against your home’s equity without selling it. The loan and interest are repaid when the property is sold, offering a flexible way to fund aged care.

Home Equity Access Scheme (HEAS)

Run by the Australian Government, HEAS allows eligible Australians to access a portion of their home’s equity as a regular income stream to help cover aged care costs.

Home Reversion Scheme

A home reversion scheme lets you sell a share of your home while continuing to live in it. You receive a lump sum or income stream, but the share sold is typically below market value.

Downsizing & Selling Your Home

Selling your home and moving to a smaller property can free up funds to cover aged care expenses. This can be a practical option for people who simplify their living arrangements.

Option 3

Private Funding from Loved Ones

Financial support from family can be an option for those who do not qualify for government assistance or prefer to fund aged care independently. Loved ones may contribute to residential accommodation and care aged care costs through direct payments or shared financial arrangements. This approach allows greater flexibility in choosing an aged care facility without the need for government assessments or funding restrictions.

Private funding can also provide faster access to preferred facilities, avoiding waitlists often associated with government-subsidised care. Families may explore different financial structures, such as pooled contributions or setting up dedicated savings for ongoing care. Seeking advice from financial planners can help ensure sustainable support for long-term aged care needs.

An elderly woman sits with a caregiver and a staff member, smiling as they review documents together. Another woman leans in, engaging in the conversation in a bright and welcoming setting.
Option 4

Emergency respite care

When urgent care is needed for a loved one, Oxa Care provides emergency respite care without requiring an ACAT assessment upfront. If immediate support is necessary, we can arrange admission first and handle the assessment process after entry, ensuring your loved one gets the care they need without delay.

How it works

1. Immediate admission – no waiting for an assessment

We accept emergency respite residents without an ACAT assessment, allowing them to receive care immediately.

2. We arrange the ACAT assessment for you

While your loved one is in our care, we’ll organise an ACAT assessment to determine their eligibility for government funding.

3. We guide you through the paperwork

Our team will help you understand what’s needed and assist with forms and processes, including ACAT referrals and aged care admission documents.

4. Ongoing care options if longer support is needed

If your loved one needs care beyond the initial respite period, we’ll help transition them into a longer-term solution. 

A modern, well-lit aged care bedroom featuring a neatly made bed with plush pillows, a warm bedside lamp, a television, and a window with natural light. A book and a lit candle sit on the bedside table, creating a cosy atmosphere.

Accessing carer's respite

Caring for a loved one is a fulfilling but demanding role. Carer respite allows caregivers to take a short break while their loved one receives professional care in a supportive environment. Whether for a few days or several weeks, respite care ensures peace of mind and quality support.

How it works

  • The resident stays in our aged care home for a short-term stay.
  • We provide professional care, meals, and support while their carer takes a break.
  • Includes flexible stay durations – from a few days to several weeks.
  • An easy entry pathway into full-time aged care.

Who can access carer respite?

  • Any live-in carer – no need to be a registered or formal carer.
  • Carers needing a break due to personal, medical, or family reasons.
  • Those who want to explore aged care as a long-term option.

How is carer respite funded?

Carer respite at Oxa Care is supported through the Australian Government’s Carer Gateway program, covering essential care costs.

Government Covers:

  •  The Basic Daily Care Fee ($63.82 per day until the 20/09/25 then it will be increased).
  • Standard care, meals and accommodation.

Families Cover:

  • Any additional services (e.g. premium room upgrades, additional lifestyle services).

How to access carer respite?

Step 1

Contact Carer Gateway or My Aged Care to check eligibility.

Step 2

Book a respite stay at Oxa Care—no ACAT assessment is required upfront.

Step 3

Enjoy peace of mind knowing your loved one is in a safe and supportive environment.

What makes Oxa Care a top choice for aged care?

Oxa Care provides premium aged care with flexible funding options, expert financial guidance, and a commitment to transparency. With seamless entry pathways and personalised support, we ensure residents and their families feel confident in their care choices.

Expert Assistance with Funding Applications

Our team helps navigate funding options, ensuring residents access the right financial support without the stress.

Transparent Fee Structures

We provide clear, upfront pricing with no hidden costs so families can plan with confidence.

“Try Before You Buy” Entry Pathway

Short-term stays allow residents to experience Oxa Care’s facilities before committing long-term.

Tailored Financial Guidance

We connect families with trusted financial advisors to explore the best funding strategies for their situation.

Immediate Admission Options without Assessment

For emergency respite, we offer fast-track admission, organising assessments after entry.

Dedicated Support Throughout the Journey

From the initial inquiry to long-term care, our team provides guidance and reassurance every step of the way.

Expert Assistance with Funding Applications

Our team helps navigate funding options, ensuring residents access the right financial support without the stress.

Transparent Fee Structures

We provide clear, upfront pricing with no hidden costs so families can plan with confidence.

“Try Before You Buy” Entry Pathway

Short-term stays allow residents to experience Oxa Care’s facilities before committing long-term.

Tailored Financial Guidance

We connect families with trusted financial advisors to explore the best funding strategies for their situation.

Immediate Admission Options without Assessment

For emergency respite, we offer fast-track admission, organising assessments after entry.

Dedicated Support Throughout the Journey

From the initial inquiry to long-term care, our team provides guidance and reassurance every step of the way.

Our process

Step-by-step funding process

With Oxa Care, navigating aged care funding is simple. From government subsidies to private payment options, we guide you through every step to ensure a smooth transition into care.

Oxa Care resident and staff member happily talking and embracing

Registered with My Aged Care

Begin by registering with My Aged Care to access government funding and support services.

Complete an ACAT assessment

An ACAT assessment determines eligibility for government-subsidised aged care services.

Explore private options

For those not eligible for subsidies, we offer flexible private funding solutions tailored to your needs.

Move into Oxa Care

Once funding is arranged, transition into our premium aged care facility with personalised support.

Meet our financial and admin team

Our dedicated financial and administrative team is here to guide you through every step of the aged care funding process. From understanding payment options to assisting with paperwork, we ensure a smooth and stress-free experience for residents and their families.

Additional Resources

Understanding aged care funding can be complex, but we’re here to help. Explore our curated resources, including official government guidelines and financial support information, to make informed decisions about your aged care journey.

Frequently asked questions

Got questions about aged care funding? We’ve compiled answers to common queries to help you confidently navigate costs, payment options, and government support.

How is aged care funded in Australia?
What government funding is available for residential aged care?
Can I use my superannuation to pay for aged care?
What are my options if I don’t qualify for government funding?
What is the difference between government-funded and private aged care?
What happens if my finances change after moving into aged care?

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Contact us

03 8402 0809
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Reach out to us to get expert guidance on aged care funding and options.

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