Home improvement financing with Medicaid
Posted on Thursday, June 11, 2015 at 11:01:45 PM
Seniors seeking home improvement financing don't have to look much further than Medicaid.
Medicaid provides affordable or free health coverage for low-income Americans, and it may also help with financing home improvements that are related to health and maintaining a comfortable life.
Medicaid Home and Community Based Services waivers are offered in most states, and can help seniors, as well as people with physical or developmental disabilities or mental illnesses, pay for home projects that will ultimately ensure they can live comfortable, independent lives in their own residences. Each state has different waivers, as well as different eligibility requirements for this sort of financing.
The program was introduced in 2009 in an effort to improve living quality for individuals who receive coverage through Medicaid. Home modifications help seniors age in place, and the Medicaid effort helps them finance this important goal. The state housing finance agency or city or country housing authorities will have more information on Medicaid home improvement financing in your area.