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Aged Care Reform – Living Longer, Living Better – Anywhere you like.

On 20 April 2012, the Federal Government responded to the Productivity Commission’s review of the aged care system in 2011 and released a package of reform initiatives designed to reshape this system. When viewed as a whole, the reforms are intended to change the emphasis from ‘aged care’ to ‘aged living’, which means choice and flexibility for the consumer.

The reforms will not only affect current participants in the aged care sector, namely approved providers and lenders, but will also be relevant to the growing number of retirement village operators who find more of the residents living in their villages receiving some form of government care support.

In terms of timing, the reform package will be rolled out over five years commencing on 1 July 2012. More…