New Harvard Study Finds Daily Home Care Visits Unaffordable for 3 in 4 Older Adults Reinforces HCAOA’s Ongoing Advocacy for Caregiver, Workforce Bills

The majority of older Americans cannot afford home care after accounting for their daily living expenses, according to a new report by the Harvard University Joint Center for Housing Studies. Roughly 75% of American households ages 75 and older do not have enough income to pay for daily home health aide visits in addition to their basic living expenses, such as housing, transportation, food and basic healthcare. 

This strengthens the need for HCAOA’s ongoing advocacy for three specific policies that will support the home care workforce and family caregivers:
 

• Credit For Caring Act (S.925, H.R.2036) – would allow an eligible caregiver a tax credit of up to $5,000 for 30% of the cost of long-term care expenses that exceed $2,000 in a taxable year.
• Lowering Costs for Caregivers Act (H.R.138) – would allow individuals to use tax-free health savings accounts (HSAs) and flexible spending accounts (FSAs) on medical expenses for their parents and loved ones.
• Homecare for Seniors Act (H.R.1795) – would allow tax-exempt distributions from health savings accounts to be used for qualified home care services such as assistance with eating, bathing, and dressing.

 
Click here for more information about HCAOA’s policies and positions.

 Click here to view the full Harvard study.