One of the concerns about purchasing and installing a stair lift is the overall cost of the item. Financing a stair lift for some can be a major expense, as the average cost can range anywhere from $1500-$3800 depending on brand, type, installation, and features desired and needed.
The good news is there are many programs and different options available in obtaining either a loan or medical insurance assistance in making the purchase. There are many different resources you can check with to see if there are any programs available to you depending on your personal circumstances that can help provide you with funding or making your home adaptable and comfortable to live in.
Here are just a few of the different choices available for financing:
Payment Plans: Many dealers offer special payment plans, some with or without interest accrued. A payment plan allows for you to make small monthly payment over the course of a year or longer to help make the purchase more affordable.
Small Personal Loans: By speaking to your bank, you may be able to qualify for a small personal unsecured loan. Loans typically are for two to three years and involve making small monthly payments. There may be additional interest charges and fees depending on your credit history. Be sure if pursuing this option you have a way to repay the loan, as you do not want your credit to be adversely affected. If you have the need to remodel much of your home due to a disability, you may also find more information at hud.gov.
Your Insurance Plan: Some insurance plans may cover different things if they are determined medically necessary, including modifications for the home. Because plans can vary from individual to individual, you should always check with your insurance plan and program.
Your State’s Department of Welfare: Your state’s department of welfare can have much information on what programs you may be eligible for, especially if your reason for needing a stair lift is due to a physical disability. Your state should have a website with this information, or you can find the phone numbers for the appropriate department to contact in the front of your local telephone directory phone book.
Local Churches and Charities: There are many local organizations and charities out there that may be able to help or provide assistance in finding financing or grants. Begin by checking with your local churches as well as other charities and you will be surprised at what resources they might be able to offer to you. Even if they cannot help you directly, they may know of other programs or persons who can.
Your physician: We often forget that our physicians are constantly aware of the latest in medical care as well as programs available in helping their patients. If all else fails, ask your physician or physical therapist if they are aware of any programs or different organizations that may be able to help you.
Having a stair lift in your home can give you more freedom and add to the overall enjoyment and quality of your life. If the cost is preventing you from increased mobility and independence, hopefully some of these options will help you find the support and resources you need.
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