Fincancing Your Stair Lift
Many people who need a stair lift never get one because they feel they can not afford it. At AmeriGlide, we believe everyone should have the freedom to live as they choose.
Because Medicare does not cover lifts, most people believe there is no financial aid available for stair lifts. Fortunately, nothing could be further from the truth. Before you buy your stair lift, consider the following financial aid options:
Veteran’s Administration
The Veteran's Administration can help US veterans pay for their stair lifts. Call 1-877-222-VETS to find out if you qualify.
Area Agency on Aging
Your local Area Agency on Aging may use funds from the Older Americans Act Title III to help local seniors install stair lifts. Find your local Area Agency on Aging by calling (800) 677-1116.
Federal Housing Administration
The FHA, which is part of the U.S. Department of Housing and Urban Development (HUD), can help you secure a loan to pay for your stair lift through a mortgage insurance program. Call your regional HUD office for more information. To find your local HUD office, visit www.dtinational.org/training/hudinfo/hudoffices.html or call (202) 708-1112.
Banks
Many banks and lending agencies offer loans for people who want to install a stair lift. They also offer reverse mortgages that allow homeowners to turn the value of their home into cash. A HUD-approved housing counseling agency can help you decide if a reverse mortgage is right for you. Call your bank to find out if they offer a low-interest loan you can use to help pay for your stair lift.
Health Insurance?
Many people don’t know that some private health insurance or long term care insurance plans help pay for stair lifts. Call your health insurance provider to find out if you qualify for financial aid before you purchase your stair lift.
Internal Revenue Service
Your stair lift may actually qualify for tax deductions. For example, you might be able to deduct the cost of installing your stair lift if it increases your property’s resale value and has been prescribed as a medical necessity. Read IRS Publication 502 or call the IRS at (800) 829-3676 to find out if you qualify for such a tax deduction.
Contact one of our stair lift experts to learn more about any of these stair lift financing options.
