Now that the Royal Commission has retired to prepare its final findings and recommendations, it is considered timely to publish the statement that James Underwood made to the Royal Commission for a new fairer model for future residential aged care financing. James’s proposed model is for a significantly less regulated funding system with higher user-pay charges funded, as necessary or desired, by a revised Pension Loans Scheme (PLS). The PLS is already in place in Australia and may require minimal adjustment to allow implementation of James’s proposal. The proposal looks to ensure appropriate funding for financially-disadvantaged and special needs groups whilst opening the way to innovations including smaller – local – aged care services.
 
James’s submission and attachments to the submission can be read at the following link.