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In 1998 the Federal Government introduced reforms to the way in
which aged care in Australia is financed.
There are now two major types of payments for aged care, depending
on a resident's income and assets:
- daily care fees, which are a contribution to the costs of care;
and
- accommodation payments, which are a contribution to the costs
of the accommodation.
Residents entering Thompson Health Care's extra service nursing homes
pay an accommodation bond, previously known as an "entry contribution",
and an income-tested basic daily care fee which is determined by Centrelink.
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