SRS Supported Residential Service private guest house

SRS Supported Residential Service private guest house

SRS Supported Residential Service private guest house by Christine Hopper

Living in a SRS Supported Residential Service private guest house is an alternative to residential aged care. Each SRS Supported Residential Service private guest house is independently owned and operated.

Accommodation and housekeeping in a SRS Supported Residential Service private guest house

All SRS Supported Residential Service private guest houses offer accommodation and meals. The individual SRS Supported Residential Service private guest house sets its own scale of weekly fees. A comfortable home with good quality meals for healthy seniors might charge about twice the full Age Pension rate. Additional fees could be incurred for any personal support or nursing care.

Personal support within a SRS Supported Residential Service private guest house

The owner and/or manager of the SRS Supported Residential Service private guest house determines the level of personal support and nursing care to be offered to residents of that facility.

Some SRS provide social activities for seniors who are mentally good but physically slowing. Help with showering and dressing could be available to those who need just a little assistance to manage in a timely way.

Other SRS Supported Residential Service private guest houses cater for seniors who have some memory problems. The staff at these facilities would provide supervision of the activities of daily living including medication. If dementia progresses these facilities might offer a more intense assistance service, at a higher weekly fee.

Full nursing care including palliative care, is available at some SRS Supported Residential Service private guest houses. You could move into a SRS Supported Residential Service private guest house when you just needed a little help and stay on for high care.

Remember that you could be asked to leave your SRS Supported Residential Service private guest house if you need more intensive care and support than that facility offers. For example, if you enter a SRS Supported Residential Service private guest house when you were finding housework tiring, you might be asked to move on when you can no longer walk to the dining room.

Fees for personal support within a SRS Supported Residential Service private guest house

The weekly service fee for a particular SRS Supported Residential Service private guest house would include the costs of the minimum level of personal support to be available for all residents of that facility.

Individual residents who require significantly more support could be charged additional fees for specific services. For example, you could pay an additional fee for help showering three mornings per week. Another facility for seniors with minor memory problems might levy an additional ‘high care’ fee for a resident who needs close supervision and more intensive assistance.

Choosing to live in a SRS Supported Residential Service private guest house

Entering a SRS Supported Residential Service private guest house requires no government forms or assessments. You negotiate entry terms directly with the manager of your preferred SRS Supported Residential Service private guest house.

You could stay in a SRS Supported Residential Service private guest house for a fortnight whilst your daughter/carer takes a holiday. A month in the SRS Supported Residential Service private guest house could ease your transition back home after major surgery. You could make the SRS your permanent long term home.

You could be asked to pay your fees to a SRS Supported Residential Service private guest house in advance each month. How you arranged your finances to make that payment is your private business. Self-funded retirees may pay the SRS fees bill and keep their financial privacy.

A full Age Pension would not be enough to cover the costs of living in a quality SRS Supported Residential Service private guest house. Some families choose to sell the former home or deplete the other financial assets to cover the costs of living in a SRS Supported Residential Service private guest house.

SRS Supported Residential Service private guest house or aged care

Commonwealth regulated residential aged care is restricted to people who have been ‘assessed’ by a Commonwealth appointed health worker as needing personal support and/or nursing care. In contrast, a physically and mentally competent senior may be accepted into a SRS Supported Residential Service private guest house.

But the SRS Supported Residential Service private guest house can require you to move on when you need a higher level of care. An aged care facility could allow you to stay within that facility whilst providing you with the higher level of nursing care.

The fees and charges for residential aged care include both a substantial accommodation component and a means tested care cost component. Aged care residents must keep Centrelink updated regarding their financial affairs or pay at the maximum rates.

Self-funded retirees with complex asset arrangements might not want to disclose their full position to Centrelink and/or pay maximum fee rates. The SRS Supported Residential Service private guest house option could simplify the cost sharing challenges of couples who keep their finances separate.

The choice of where to live when you cannot stay at home is complex. You want a comfortable place with kind caring staff. But you must be mindful of the dollar costs.

Financial advice before permanent entry to SRS Supported Residential Service private guest house

Specialist aged care financial advice before entering a SRS Supported Residential Service private guest house could avoid a cash flow crisis later. No one wants to be required to move on from a SRS because of money troubles.

Help is available. Christine at Financial Care Services understands the Age Pensions and DVA Pensions. Christine could help you understand the costs of living in your preferred SRS.

The costs of alternative residential aged care could also be illustrated. Knowing the likely costs of Commonwealth regulated aged including the Centrelink assessment of means tested care fees could help clarify your choice.

A consultation with Financial Care Services helps you understand your potential costs of supported living together with the DVA and Centrelink implications of rearranging your assets, leasing or selling the former home.

Call Christine on 03 9808 0338 to make an appointment for a consultation. Please email your enquiry to receive a Financial Care Services Financial Services Guide and Aged Care Data Checklist.

Financial Care Services your independent financial advisor

Financial Care Services is an independently owned financial advisor that holds Australian Financial Services Licence 299570. Thus Financial Care Services is permitted to provide personal financial advice to individual clients and families. Christine at Financial Care Services is licensed to offer investment strategy advice and to assist you to invest.

Financial Care Services charges fixed fees for initial consultations about seniors moving home. Financial Care Services does not base fees on the value of your assets nor do we accept any commissions or payments from other service providers.

Christine at Financial Care Services understands the Age and DVA Pensions and Centrelink assessment of the means tested amount for aged care both home care and residential aged care.

A consultation with Financial Care Services helps you understand your potential living costs together with the DVA and Centrelink implications of rearranging your assets, leasing or selling the former home.

Financial Care Services welcomes clients from Melbourne and beyond.

Call Christine on 03 9808 0338 to make an appointment for a consultation. Please email your enquiry to receive a Financial Care Services Financial Services Guide and Aged Care Data Checklist.

Assistance with completing Centrelink Pension and aged care means testing forms is available to clients of Financial Care Services.

Arrange an appointment for further confidential, independent and professional advice about DVA, Centrelink, lifestyle or financial issues please contact Christine Hopper 03 9808 0338.

Disclaimer: The information contained in this website is of a general nature only and does not constitute “financial advice”. You should obtain your own personal financial advice before investing any money or moving in to any retirement village, lifestyle community or aged care facility. Financial Care Services is licensed to provide financial advice to individual clients based on their personal situations. © 2017 Financial Care Services Pty Ltd. All rights reserved.