New Act May Reimburse Caregivers

AARP is working to help those who care for a loved, whether it’s a parent or other relative.

The company understands that it can be expensive and stressful to take on the responsibility of caring for someone who can’t take care of them self. AARP wants to help caregivers by reimbursing them for expenses related to caring for their loved ones, specifically costs related to modifying their home to help their relative.

Many caregivers are taking the approach to remodel parts of their home due to the high cost of senior care homes, and it can impact their ability to care for their families. AARP’s solution is called the Credit for Caring Act. “So what we are trying to do is provide a financial benefit to family caregivers who make home adaptions to help keep their family loved ones at home. so family members would qualify if they put on grab bars, or modify their home, a ramp, anything to provide care to their loved one to keep them safe in their home, said Dana Kennedy from AARP of Arizona.

If they qualify, caregivers could potentially receive: a cash back maximum of $3,000; and a tax credit for 30 percent of qualified expenses totaling more than $2,000. Expenses that qualify are: those that are used for home adjustments for the disabled loved one and any money that’s used to make life easier for the loved one.

To find out more about the Credit For Caring Act, click here.