HCAOA Supports New Bill to Provide Seniors, People with Disabilities Tax Credits for Aging-In-Place Home Modifications
HCAOA has been working with legislators to support legislation that would provide tax incentives for home modifications so seniors and those with disabilities can more easily and safely continue living in their own homes.
U.S Representatives Charlie Crist (D-FL) and Thomas Suozzi (D-NY) introduced the Home Modification for Accessibility Act, legislation that would provide a lifetime $30,000 tax credit to cover the costs associated with aging-in-place modifications to homes. The act also creates new jobs for the U.S. economy.
The tax credit would be refundable and transferable so that even low-income seniors and those on a fixed budget would be able to take advantage of the credit immediately. The bill would lower Medicaid long-term care expenditures as more seniors can age in place and would decrease Medicare expenditures by reducing preventable injuries that occur in the home.
“This bill will help correct a fundamental injustice in American life. While we’re living longer and healthcare is increasingly conducted at home, the country’s housing stock is not meeting our daily and safety needs,” said Tenenbaum.
“Incentives outlined in this bill will encourage people to demand building and renovation designs that support aging in place with joy, dignity, and independence. Over time, these features will become the norm, benefiting individuals, families, the healthcare system, and our economy.”