Bond payable & assessed once only | Compensation and Support Reference Library, Departmental Instructions, 1998, C12/1998 AGED CARE REFORMS , PENSION ASSESSMENT OF ACCOMMODATION BONDS

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Bond payable & assessed once only

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A person is assessed on their ability to pay an accommodation bond once only, on entry to low level aged care.

Thereafter, if the person moves to another hostel facility, the balance of the bond will be refunded, and paid to the new facility.

Where a person moving from one facility to another did not originally pay a bond, they may be asked to pay a bond in the new facility.

Likewise, a person's assets are assessed by an aged care facility (for accommodation bond purposes) once only at the time the accommodation bond is negotiated.  If the person's assets vary after the bond has been agreed, the facility will not reassess the amount of the bond.