Since 19 May 2014, all approved providers have been required to publish their accommodation pricing and key features information on the My Aged Care website. The publication of accommodation prices and key features information is a legislative requirement. Providers should ensure that the information on the My Aged Care website is accurate.
You may be aware that the maximum permissible interest rate (MPIR) changes quarterly on 1 January, 1 April, 1 July and 1 October, which affects the equivalence between refundable deposit and daily payment amounts. Accordingly, you must update the accommodation prices published on My Aged Care, on your own website, and in relevant written materials given to prospective residents in line with changes in the MPIR.
The portal and My Aged Care website will automatically update the daily payment amounts published for your service/s for you on the first day of each quarter. The maximum refundable deposit amounts will not be changed. If you would like to change the published refundable deposit amounts, you may do so using the portal.
Approximately one week before the date of effect, you will receive an automatic notification from the portal advising you of the change in MPIR and reminding you that the daily payment amounts in the portal and on My Aged Care will be automatically updated.
For more information about the responsibilities of aged care home providers, please visit the Department of Health website.