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Safe in Your Space – Funding Trends

funding
Looking for ways to fund the home modification for your space? Funding for home modification may seem difficult, but with a little planning it is not impossible. Here are some of the funding trends found in for home modification:

    • Most insurance companies do not offer reimbursements for home modification: Insurance companies might pay for durable medical equipment, but usually only after an accident or illness has already occurred. However, a few social health maintenance organizations (SHMOs), such as Senior Care Action Network (SCAN), will pay for limited home modification. In addition, many states have Medicaid waivers that will pay for “environmental modifications.”

 

    • Costs of home modification can pose financial problems for many older people and can be quite a burden for low income elderly and caregivers:  Federal initiatives currently providing low income households with some assistance for home modification are at risk of losing funding. The availability of home modification for low income persons is very dependent on programs such as Medicare and Medicaid, Community Development Block Grants, and the Older Americans Act, which have not fully recognized their importance for aging in place.

 

  • The most common funding source used is Community Development Block Grants:  However, some states have been experimenting with new ways to provide home modification through Medicaid waivers, state revolving loan funds, property tax exemptions, and tax incentive programs. Other states have focused on consumer protection from unscrupulous providers and offer information about accessing home modification.

If you are considering making the necessary modifications for your home, let us help you stay safe in your place.

Call us today at (657) 21-SAFE-7 or browse our website for more information.