How much can you get?
If you have no partner or your partner is also in long term care your total assets must be valued at $224,654 (2018) or less before you can qualify for the subsidy. If your assets are over this threshold you do not qualify.
If your partner is not in care and your combined assets are less than $123,025 (2018), not including the value of your house and car you can qualify for the subsidy.
Or, if your combined total assets are less than $224,654 including the value of your house and car you can qualify for the subsidy.
The asset threshold increases by CPI (inflation) on the 1st July each year.
If you do qualify for residential care subsidy your income is also assessed. Income includes:
- NZ Superannuation payments and overseas pensions are paid directly towards your care.
- 50% of private superannuation and 50% of life insurance annuities is paid directly towards your care.
- earnings from interest, bank accounts, investments, business or employment.
- income from a family trust, trust or estate
Refer to the Age Concern web site for answers to commonly asked questions.
Residential Care Asset Threshold