Are Stair Lifts Affordable?
Stair lifts are a great solution for those who want to age in place but have trouble getting up and down the stairs. However, many believe they are too expensive and opt against them. If you’re looking into stair lifts for yourself or a loved one, this handy guide may answer a few of your questions about the affordability of stair lifts!
Check your insurance policy and healthcare plan.
Some healthcare and insurance policies will cover (either partially or fully) the cost of a home modification or healthcare item. If you have Medicare or Medicaid, check with your care/case manager to find out if the cost may be covered in your plan. This can vary widely depending on your insurance, so read over your plan carefully!
Claim a deduction.
Talk to a Certified Public Accountant to find out if you’re eligible to deduct the cost of a home modification (such as a stair lift installation) on your federal income taxes. If possible, get a written recommendation from your doctor to prove it’s medically necessary. Note: You can only itemize these deductions if the main purpose of installation is medical care for you, a spouse, or dependent; modifications made for aesthetic, architectural, or other personal reasons do not qualify.
Apply for accessibility grants.
Search for local funding options, such as nonprofits that provide people with accessibility and mobility tools. Some offer financial assistance and some offer help with budgeting and financing.
Consider the cost of moving.
Nursing homes are expensive, and the process of moving may be too much stress for you or your loved one to handle. The cost of moving is significantly higher than purchasing and installing a stair lift for better mobility.
For some, the thought of stair lifts being affordable may seem far away. But if you know where at look and how to go about it, they can be a great addition to a home and keep someone aging in place for years to come. To learn more about stair lifts and what financial options you may have, call Mullaney’s Pharmacy & Medical Supply, stop into one of our locations, or shop stair lifts online here!