‘Time they don’t have’: Why Labor’s aged care fix fails vulnerable retirees

May 20, 2026 — 5:02am

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In January last year, the government increased the market price cap on aged care beds from $550,000 to $750,000. It turned the aged care myth of “if I don’t have any money, I won’t get in” into a reality.

That $200,000 stroke of a pen created a funding gap that priced out many financially disadvantaged residents. Some of those senior Australians have been waiting in hospital beds for a change to the policy that would mean they could access the care they need. The federal budget will take them halfway there.

When the market price cap increased, the government did not increase the amount it effectively pays providers for residents who cannot afford those prices – known as low-means residents.

So while providers could receive the equivalent of a $750,000 refundable accommodation deposit (RAD) from wealthier residents, the government support attached to low-means residents remained equivalent to around........

© Brisbane Times