Tax Credits For Seniors’ Home Modifications Could Save States Medicaid Funding
Virginia and some other jurisdictions are offering residents tax advantages to help pay to retrofit a home, for example widening doorways to accommodate wheelchairs or adding ramps. Also, a look at how for-profit companies are moving into a Medicare program designed to keep people in their homes.
Tax Credits For Ramps, Grab Bars To Help Seniors Stay At Home
Most seniors and aging baby boomers want to remain in their homes as they grow older. But to do that, many will have to retrofit their homes to accommodate them if they become frail or disabled — and that can be prohibitively expensive. It can cost $800 to $1,200 to widen a doorway to accommodate a wheelchair, $1,600 to $3,200 for a ramp, and up to $12,000 for a stair lift. ... Virginia and at least three counties in the U.S. have approved tax credits for residents who make their homes more accessible. ... For states, giving tax credits to allow people to stay in their homes may be a money-saver, since it’s much more expensive for Medicaid. (Bergal, 8/24)
Kaiser Health News:
As The For-Profit World Moves Into An Elder Care Program, Some Worry
But this is no linoleum-floored community center reeking of bleach. Instead, it’s one of eight vanguard centers owned by InnovAge, a company based in Denver with ambitious plans. With the support of private equity money, InnovAge aims to aggressively expand a little-known Medicare program that will pay to keep older and disabled Americans out of nursing homes. Until recently, only nonprofits were allowed to run programs like these. But a year ago, the government flipped the switch, opening the program to for-profit companies as well, ending one of the last remaining holdouts to commercialism in health care. The hope is that the profit motive will expand the services faster. (Varney, 8/24)