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Sydney Hearing 5

Funding, financing and prudential regulation

This hearing inquired into the financing and sustainability of future improvements to the aged care system, the appropriate funding model or models to support the delivery of aged care services, and the prudential regulation of aged care providers.

Date: 14 - 22 September 2020 
Location: There was no public access. Watch the hearing on the live webcast.
Time: 10am AEST

The hearing also inquired into:

  • whether there is a need to establish a specific financing mechanism to support government (and private) contributions to the aged care system, and if so, how this could be achieved
  • whether sustainable high quality care is best secured by funding from consolidated revenue or such other models as social insurance as adapted in other jurisdictions
  • whether and how individuals should contribute to the cost of receiving aged care services, including whether distinctions should be drawn between the contributions made for different kinds of aged care services (for example, domestic assistance, personal and clinical care, ordinary living expenses, and accommodation)
  • whether the current system for determining the amounts of government subsidies paid to aged care providers is suitable for its purpose
  • whether the funding available to providers under the current aged care system is sufficient to support the provision of high quality aged care;
  • whether, how, and by whom should the price of government subsidies and private fees for aged care services be determined, including in markets where there is not effective competition between providers
  • whether the prudential regulation regime that applies to aged care providers is adequate to ensure the sustainability and stability of the aged care system, and if not, what changes if any should be made to improve the prudential regulation of aged care services

Further information

  • Sydney Hearing 5 closed on Tuesday 22 September 2020.
  • Applications for leave to appear at the public hearing closed 5pm (ACST) on Friday 7 August 2020.
  • Copies of documents relating to this hearing are available below.

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