From www.ifa.com.au: The new Aged Care Act, taking effect on July 1, introduces significant changes to Australia’s aged care system, including an increase in home care funding packages from four to eight levels along with two circumstance-based levels.

This legislation aims to provide better client protection against high administrative fees and ensure funding aligns with clients’ actual needs, with a cap on service providers’ fees reduced to 10%.

These changes offer opportunities for advisers to better assist clients in accessing necessary care while allowing them to remain in their homes longer.