Trends: Seniors and Living at Home
There is no hiding the fact that most seniors wish to spend their retirement in their own home even if that means home improvements and a home health aide. A survey by AARP concluded that 87% of those above the age of 65 want to age in place.
Fall prevention plays a key role in making the home environment safe for seniors to move around freely. The Centers for Disease Control and Prevention showed that 2.8 million older people are treated for fall-related injuries every year. This treatment added a bill of $50 billion to the United States in 2015 alone. Medicare paid 75% of these costs.
According to experts, after one fall, the risk of falling increases by 50% in the next six months. To prevent a fall, it is important to understand if someone is at risk of falling. This allows you to devise a plan to avoid falls.
Remodeling and home modification mean a long and costly bill. This puts off several homeowners from making changes and turning their home into senior-friendly. In order to stop this discouragement, there was a push for the Senior Accessible Housing Act. The act states that people over 60 who make certain modifications to their home to retrieve $30,000 tax credit during filling.
The Senior Accessible Housing Act - HR 1780
The Senior Accessible Housing Act is aimed at amending the Internal Revenue Code to allow a nonrefundable tax credit of up to $30,000 for citizens above 60 who modify their home in order to make it safer, functional and independent for living.
Such modifications with qualify for a tax credit under the act are:
● Install entry and exit ramps
● Doorways widening
● Handrail or grab rail installation
● Nonslip flooring installation
● Other modifications as listed by the Internal Revenue Service (IRS), that increases the safety and livability of the house.
Kristin Easterling. (2020). Exploring the Trends of Aging in Place. HomeCare Magazine.