Many people want to stay in their homes as they age, but taking steps to make that possible is often delayed—usually due to cost concerns. If you’re looking for an affordable way to age in place, stair lifts (also called stairway chair lifts or stair chairs) are a practical solution.
Stair lifts attach to a rail installed on your stairs, allowing a motorized seat to move smoothly up and down without requiring any additional construction. This makes stair lifts an economical choice for aging in place, with prices typically ranging from $3,000 to $7,000 for straight stairs.
A common question we hear is: How do you pay for a stair lift? Let’s explore the best ways to cover the cost of a stair lift and keep your home accessible.
How to Pay for a Stair Lift
There’s no “wrong” way to pay for a stair lift. However, some options take more time or have specific eligibility requirements. Here are some common ways to pay for a stair lift.
1. Finance it
Affording a stair lift isn’t always the issue—sometimes it’s managing the cost upfront. If you’re on a fixed income, waiting for a tax refund, or juggling other financial priorities, spreading payments over time can make a big difference. Arrow Lift can help by offering financing options for qualified homeowners through the nation’s leading consumer finance company. Contact us to learn more!
2. Take Out a Loan or Line of Credit
If you own your home and you already have a relationship with a local bank or credit union that you like, it can sometimes be possible to obtain a home equity loan or line of credit through your financial institution to pay for your stair lift. We recommend contacting your financial institution to confirm if this option is available to you.
3. Initiate a Fundraiser
A fundraiser could be a great option if you need additional help purchasing a stair chair lift. Online platforms like GoFundMe are popular for raising money, but many others are available. Just be sure to verify the legitimacy of any campaign before contributing, and remember that these platforms often charge fees for processing donations.
For a more traditional approach, consider hosting a garage sale, bake sale, or similar event to raise funds. For example, one Ohio church ran a “Raise the Chair” fundraiser, tracking progress with a chart showing the stair lift moving up the stairs as donations came in. Creative efforts like these can make a big difference!
4. Use Medicaid (Not Medicare)
Medicare and Medicaid are two distinct public healthcare programs. Medicare, a federal program, primarily serves people over 65, while Medicaid, managed by individual states, supports people of all ages with low income.
Medicare sometimes helps cover the cost of lift chairs (stationary chairs that assist with standing), but it does not cover or subsidize stair chair lifts. However, Medicaid may pay for stair lifts in certain circumstances. If you’re a Medicaid recipient, consult your caseworker or medical provider for guidance. Arrow Lift partners with various funding sources and may be able to assist if you qualify for Medicaid funding to improve your home’s accessibility.
5. Ask the VA
The United States Department of Veterans Affairs pays for stair lifts for veterans of the United States military in certain situations. As a VA-certified Veteran-Owned Small Business, Arrow Lift recognizes the importance of supporting those who have served our nation. If you are eligible for healthcare through your local VA Medical Center, consider asking if the VA will cover the cost of a stair lift. Coverage will depend on your specific circumstances.
6. Apply for a Grant
While funding stair lifts from charities or non-profit foundations is less common than many expect, it happens occasionally. If you know of an organization that supports people with disabilities or seniors facing accessibility challenges, it’s worth asking about their eligibility criteria for stair lift funding programs.
7. Take Advantage of Tax Savings
Are stair lifts tax deductible? According to page six of IRS Publication 502, the answer is yes. Stair lifts and porch lifts qualify as capital expenses that can be included in itemized deductions for medical expenses. However, while we specialize in accessibility, we’re not tax professionals. For detailed advice, please consult your CPA or tax preparer.
8. Receive a Gift
Buying a stair lift is often a family effort. Children and grandchildren coming together to help relatives stay in the home they love is a meaningful way to show care and support. The memories, comfort, and cost savings—especially compared to assisted living or relocating—make a stair lift a valuable investment. In some cases, neighbors and friends also step in to assist. At Arrow Lift, we welcome this collaborative approach!
9. Write a Check
Paying for your stair lift the old-fashioned way—by writing a check—is still popular. Payment terms can vary, but paying a 50-60% deposit upfront is common. This is because custom work, like preparing the stair lift rail, typically needs to be completed before the installation technician arrives at your home.
10. Use a Credit Card
Using a credit card to pay for your stairway chairlift lift is quick, easy, and hassle-free. The convenience factor makes credit card use a very common way to purchase a stair lift. For added peace of mind, consider choosing a company with an A+ Better Business Bureau rating and visiting their nearest physical location before providing your credit card details.
The Right Stair Lift at the Right Price
There are several different ways to pay for a stair lift. One thing is for sure, though: However you pay for it, ensure you get a high-quality stair lift that doesn’t cut corners on safety, reliability, or ease of use. Not all stair lifts are created equal. In our 40 years of experience, we have learned that it matters a great deal who manufactures it, installs it, and does maintenance and repairs when needed.
From traditional methods like checks and credit cards to unique options such as Arrow Lift’s financing program or holding a fundraiser, there are many ways to help pay for a stair lift. As a family business since 1985, we regularly help our clients make wise purchase decisions, and we would be honored if you allow us to help you, too.
