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New Bill Would Help Older Adults Afford Home Modifications

As a leading provider of home care services and a member of the HomesRenewed Coalition, FirstLight supports the introduction of the Home Modifications for Accessibility Act.

Earlier this month, Representatives Charlie Crist (D-FL) and Tom Suozzi (D-NY) introduced the Home Modification and Accessibility Act, which creates financial incentives for homeowners to proactively make accessibility upgrades to their homes. The bill would help older adults afford home modifications, allowing them to live safely and comfortably in their own homes as they age.

AARP reports that around 90 percent of people ages 65 and older would prefer to age in their homes rather than move to an assisted living community or nursing home. When compared, aging at home is cheaper and more cost-effective than living in a nursing home.

The Home Modification and Accessibility Act empowers Americans to make decisions about where and how they live by offsetting the costs associated with making home modifications through a penalty-free early retirement withdrawal and lifetime tax deduction of up to $30,000.

By offering financial incentives through this legislation, people can plan ahead, upgrade their homes and better prepare to age in place. Accessibility upgrades in the home can also help reduce falls, injuries and other health problems, which can potentially reduce medical expenses.

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

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