COTA Australia’s submission to the Residential Aged Care Accommodation Pricing Review calls for equitable, transparent, and affordable accommodation pricing.
It advocates for charges to be shown as time-based amounts (daily, weekly, or fortnightly) and for genuine consumer choice in how payments are made – through fully refundable lump sums (e.g. RADs), cash or lumpsum drawdowns ( e.g. DAPs), or future insurance-style products. COTA proposes a mix of mandatory minimum numbers of low-means residents and tiered incentives to guarantee equitable access to quality accommodation.
The submission explores a discounted Weighted Average Cost of Capital (WACC) as an alternative to today’s MPIR. The submission emphasises strong consumer protections, regulatory oversight, and transparent pricing to uphold fairness and choice for all older Australians.