I already saw this and replied in the WebMD Diabetes Community, but will post here as well. I am so glad to also see this in this WebMD Alzheimer's Community.
Excellent topic.
My dad was diagnosed with Alzheimer's Disease in January 2011. I am the responsible party and have finally found him an excellent Assisted Living Facility after two previous facilities were just not right for him. He is still functioning very well but can no longer drive, live alone and needs the 24/7 nursing care provided by this facility. The place his lives in now is wonderful and he is very happy.
Assisted Living Facilities are private pay only. No health insurance plan covers the cost, which can be quite high. The monthly fees are all deductible as a medical expense at income tax time as long as the doctor has determined the patient needs this level of care.
Two questions I have:
1. Will Assisted Living Facilities (ALF) every be covered under any health insurance plans?
2. Will the fees for an ALF ever be considered a tax
CREDIT rather than a tax deduction? I do my dad's income taxes but he does not have enough taxable income for the $58,000 he paid for the year that I claimed as a medical deduction to affect his return. If any or all of these ALF costs were able to be claimed as a tax credit it could help with expenses.
I look forward to seeing the results of this Town Hall.
Click on my user name or avatar picture to read my story.
Blessings, Dave