The Financial Advantages of a Walk-In Tub
Walk-in tubs are an increasingly popular choice for homeowners because of the many benefits they offer, including cost savings. In this article, we explore how walk-in tubs can save homeowners money long-term and help them age comfortably at home.
Tax Deductible
Purchasing a new walk-in tub may be tax deductible. To qualify, the walk-in tub must be medically necessary and doctor-recommended, for example, as part of bathroom modifications in support of a health condition, disability or mobility limitation.
“You can include in medical expenses amounts you pay for special equipment installed in a home… if their main purpose is medical care for you, your spouse or dependent.”
Check with your primary care physician, accountant or financial advisor if you have questions about ensuring your walk-in tub is tax deductible.
Increase in Home Value and Cost Savings
Installing a walk-in tub in your bathroom can increase your home’s resale value, especially if your residence is in a senior living community or neighborhood. Walk-in baths offer a variety of safety-focused features, such as a low-step entry, built-in grab bars and anti-slip surfaces. These make bathing more accessible, convenient and therapeutic than a regular tub or shower for seniors and those with limited mobility or disabilities.
Are you remodeling your bathroom? Walk-in tubs are often installed without extensive renovations, saving you money on labor and materials compared to traditional bathroom renovation projects. As you make modifications to your home, you may be able to recoup some costs through insurance, Medicaid and grants for veterans.
Insurance Coverage
Private insurance may cover the cost of a walk-in tub. Coverage will depend on your specific provider and coverage benefits, although this is not standard and can be limited (for example, only covering the cost of home renovations or equipment). Talk with your insurance representative if you have questions.
Medicare and Medicaid
Despite their numerous safety benefits, walk-in tubs are not currently classified as medically necessary equipment and aren’t usually covered by Medicare. However, many walk-in tub manufacturers offer rebates, discounts, waivers and special pricing for seniors and military veterans.
Medicaid and Medicaid-funded programs can also help pay for your walk-in tub purchase and/or installation. Medicaid coverage varies by state, so check with your local Medicaid office to see if you qualify.
Veteran Affairs Benefits
When shopping for a walk-in tub, look for manufacturer discounts and special pricing for veterans—these can offset upfront costs and make safe bathing more affordable.
While the Department of Veterans Affairs no longer covers walk-in tub purchases, veterans can save money on a walk-in shower through grants from the VA. Learn more about using your Veterans Affairs benefits by reading our blog.
Lowering Energy Bills
Walk-in tubs can also lower your energy bills. Many models come with energy-efficient features, such as low-flow faucets, insulated walls and heated surfaces. These features can reduce the energy and water you use, resulting in lower utility bills over time.
Safe Step’s Lifetime Warranty
Invest in your long-term well-being and safety with a walk-in tub. When you choose Safe Step, you’ll enjoy our best-in-class lifetime warranty on the tub, parts and labor. Plus, with custom pricing and a lowest price guarantee, we’ll help you find the walk-in tub you need without breaking the bank. Request your free quote today to get started.
