$1.6 billion boost for aged care
With Australians now expected to live almost ten years longer than they were 50 years ago, the government is improving services to our ageing population. Aged care is a priority for current and future governments due to the imminent retirement of the ageing baby boomers.
Key aged care announcements in the Budget 1
- Additional $1.6 billion over the next 4 years to provide 14,000 extra HomeCare packages and help ease the backlog of ageing retirees wanting to access care in their own home
- Increased government funding to keep people ageing in place in their own homes rather than residential aged care
- Current wait list of 60,000 people approved for government funded HomeCare package, will be provided with aged care support in their own homes
- Another 40,000 people are receiving HomeCare below the level required
- Extra funding to support aged care accommodation and services in rural areas
- $83 million to fund specific mental health services in aged care
- Additional $1.4 billion funding to add medications to PBS to help people age well and remain healthier for longer
- Appointment of an Aged Care Quality and Safety Commissioner
- Supporting access to aged care services in rural, regional and remote Australia
- Improving the My Aged Care website to make the aged care system easier to navigate; and
- Providing additional funding to support the mental and physical health of older Australians.
1 Source: First State Super
The care industry is seen as a key driver of the economy, with the health sector providing 7% of the economy and 14% of jobs. Initiatives will focus on:
- Australia transitioning from a mining and resource driven economy to the care industry as a major employment driver over the next 10-20 years
- The significant shortage of aged care and age appropriate housing is expected to increase employment and economic activity in the construction industry.