Home-Modification Bill Could Help Adults Age in Place

A bill introduced in Congress in May would assist seniors in paying for home modifications that would make their houses more accessible and livable as they age. The Home Modification for Accessibility Act, sponsored by Reps. Charlie Crist and Thomas Suozzi is now in the House Ways and Means Committee. If approved, it would allow seniors who want to make aging-in-place upgrades in their homes to deduct the expenses of such upgrades from their income taxes or pay for the improvements out of their retirement funds without penalty.

Rep. Crist said in a statement that many homes don’t have these accessibility measures in place, and they can be hard for seniors to afford.

“Given the option, the vast majority of seniors and people with disabilities want to stay in their own home for as long as possible. It’s more comfortable, less costly, and improves the quality of life,” the 65-year-old Florida congressman said. “Unfortunately, many homes lack accessibility upgrades to make this a reality for seniors on fixed incomes and people with disabilities.”

The Home Modification and Accessibility Act

According to AARP, almost 90% of Americans aged 65 and older would prefer to age in place rather than relocate to an assisted living complex or nursing home. Aging at home is less expensive and more cost-effective than staying in a nursing facility.

The Home Modification and Accessibility Act allows Americans to choose where and how they live by offsetting the expenses of home renovations with a penalty-free early retirement withdrawal and lifetime tax deduction of up to $30,000.

By providing financial incentives through this law, people may plan ahead, update their houses, and better prepare to age in place. Home accessibility improvements can also help minimize falls, injuries, and other health concerns, and can potentially lower medical costs.

Learn more about home improvement incentives and how to contact your congressperson.

If passed, the Home Modification for Accessibility Act will strengthen aging-in-place initiatives by encouraging increased collaboration between home care providers and home-modification businesses.

Read more about Home Modifications. 

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