What is an exit fee?

Some providers charge exit fees if you choose to leave their service. The amount the providers charge varies greatly. At 30 June 2020, the average published maximum exit fee amount was $214. Eight providers published a maximum exit amount of $1,000 or more at 30 June 2020.

Do I have to pay an exit fee?

If you have already signed on with a provider that has an exit fee and want to leave then you will have to pay the exit fee. However, the government’s rules state that you can only deduct Exit Fees from your unspent funds, so if you’ve spent all your funds you won’t have to pay.

Based on My Aged Care data, 39% of providers in Australia charge an exit fee. When you’re comparing providers on CareCompare, you can easily see which providers charge exit fees and how much they charge.