02 Feb
Posted by Lori Solomon as All, Senior Living
In most situations the entire monthly fee, including room rate, food and care services for assisted living is tax deductible as a medical expense.
The Health Insurance Portability and Accountability Act (HIPAA) was signed into Federal law in 1996. To be eligible to deduct for senior living at a senior living facility, there must be a need for assistance in activities of daily living, or cognitive impairment, such as Dementia or Alzheimer’s.
Typically assistance in at least 2 Activities of Daily Living (ADLs) is necessitated, such as in toileting, transferring, bathing, dressing, eating, or incontinence care. Or supervision might be necessitated for the safety of a cognitively impaired individual.
A care plan must also be established by a licensed medical professional to certify the care needs. The majority of seniors who reside in an assisted living type facility could take advantageous of this tax break!
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