9 July 2019

Updated Benefits for NSW Senior Residents (60 years and over)

By Michael Rambaldini

Director |Certified Financial Planner | Aged Care Professional

There are some new benefits for older Australians who live in NSW.

These benefits are solely provided to help out seniors in terms of their living costs and also to support them for some health care and hospitalisation needs.

The New Seniors Savers Card

For older Australians who are 60 and over, this card will entitle them to receive discounts from 7,000 business establishments.  But the Seniors Savers Card will not allow holders to be eligible for Gold Opal Cards. These Gold Opal Cards currently cap daily commute fare at $2.50 which the government also decided to freeze for the next four years.

The existing NSW Seniors Card

This will still continue to be available as previously, only holders of this card were given discounts as opposed to the New Seniors Savers Card. For the low Income self- funded retirees who hold a Commonwealth Seniors Health Card, they will  receive the following benefits:

  • Eligible for $200 pa energy concession starting 1st July 2019.

 An estimated 130,000 retirees will benefit from this.

  • Pensioners and CSHC in rural and regional areas will also receive $250 travel card for fuel, taxis, train and coach fares.

Health Personnel

To address the need of the Public Health Sector for health personnel, the government agreed to increase:

  • 5000 nurses
  • 100 palliative care nurses
  • 1,060 doctors, specialists and health workers
  • 1360 support staff

Almost half of these additional health staff and personnel were allocated to regional areas.

Eye Care for Older Australians

  • 10,000 cataract surgeries will be funded over the next 4 years especially to those who are still on the waiting list for this type of surgery which is mostly common in older Australians.

Hospital Funding for these areas have been allocated:

  • Tweed
  • Maitland
  • Macksville
  • Mudgee

Work willl start on hospitals at:

  • Bankstown
  • Lidcombe
  • Eurobodalla

For seniors wanting to learn about savings, they can make an appointment with Service NSW Cost of Living expert which they can book in person, by phone or using their website www.service.nsw.gov.au

At Verante Financial Planning, we will also be able to answer more of your queries on a personal level that is suited for your individual needs. Please visit our website, www.verante.com.au to know more.

Verante Pty Ltd is a Corporate Authorised Representative of Viridian Select Pty Ltd, ABN 41 621 447 345, AFSL 515762. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information consider its appropriateness, having regard to your objectives, financial situation and needs.