Boost in Home Care Package Funding: What You Need to Know

Starting today, Home Care Package (HCP) funding will see a significant boost to ensure it keeps pace with the rising cost of living. Whether you're self-managing your Home Care Package or have a provider managing it for you, staying informed about changes to your Home Care supports and services is crucial.

Why the Increase?

The funding for Home Care Packages increases on July 1^st every year. The cost of living has been steadily increasing, impacting everything from groceries to healthcare. To ensure that those who rely on Home Care Packages continue to receive the support they need without financial strain, the government has adjusted the funding. This change is designed to help recipients manage their daily living expenses more effectively, ensuring that quality care remains accessible.

Understanding Your New Funding Amounts

We know that industry jargon can be confusing, so we've broken down the new funding amounts into simple, easy-to-understand figures. Here’s what you need to know about the daily, fortnightly, and annual funding amounts you'll now receive under the updated Home Care Package:

Daily Funding

Your daily funding amount has been increased to better reflect the current cost of living. This daily rate is essential for covering the everyday expenses associated with your care.

Fortnightly Funding

Fortnightly funding provides a more substantial sum every two weeks, helping you manage larger expenses or save for upcoming needs. This amount is a reflection of your daily funding rate multiplied by 14, ensuring you have a clear idea of your budget for the coming fortnight.

Level 1 Home Care Package: $406/fortnight
Level 2 Home Care Package: $714/fortnight
Level 3 Home Care Package: $1,554/fortnight
Level 4 Home Care Package: $2,356/fortnight

Annual Funding

The annual funding amount is the total sum you'll receive over the course of the year. This figure is calculated based on your daily rate multiplied by 365 days. This annual total is crucial for long-term planning and ensuring that you can cover significant expenses or unexpected costs throughout the year.

Level 1 Home Care Package: $10,588.65/year
Level 2 Home Care Package: $18,622.30/year
Level 3 Home Care Package: $40,529.60/year
Level 4 Home Care Package: $61,440.45/year

How to Manage the Changes

Review Your Budget: Take a look at your current expenses and see how the increased funding can help cover them. Adjust your budget accordingly to make the most of the new amounts.
Communicate with Your Provider: If you have a provider managing your package, discuss the changes with them. They can help you understand how the new funding will be allocated and any additional services you might now afford.
Stay Informed: Keep an eye out for any further updates or changes to Home Care Package funding. Staying informed will ensure you can make the best decisions for your care.
Use Resources: Utilise resources like agedcareonline.com.au, or those provided by the government or your care provider to help you navigate these changes. These might include online tools, brochures, or support hotlines.

The boost in Home Care Package funding is a welcome change designed to help recipients manage their care more effectively in the face of rising living costs. By understanding the new daily, fortnightly, and annual funding amounts, you can better plan for your needs and ensure you continue to receive quality care. If you have any questions or need further clarification, don't hesitate to reach out to your provider or consult the available resources.

Find out more about Home Care Packages

Do you need help finding home care?

Receive a free customised shortlist of home care providers in Melbourne, Sydney, Brisbane and Perth.