The price quoted for a room in residential aged care is a large amount of money, but it is not “lost” money. You are effectively buying a new home, and the price is refundable when you leave.
Three things to know about RADs:
The amount you pay is refundable
It is Government guaranteed
Paying a RAD may help you qualify for a higher age pension
If you want to know more about the RAD refund rules, ask us for help.