Options for Covering Senior Living Costs

Our financial options can help you achieve your retirement dreams.

Advancements in health and wellness allow today’s seniors to enjoy longer, healthier lives pursuing their dreams. But that means their retirement savings have to go even further. That’s why having a practical plan for the future is vital. As you explore your retirement community options and learn about the cost of senior living, you may wonder what your best option is.

As a Life Plan Community, we offer an independent lifestyle with services and amenities you can enjoy for all the years ahead. Plus, with our Life Care contract, you’ll have peace of mind knowing a full continuum of high-quality care is available at predictable monthly rates.

Entrance fee and monthly fees

Making Galleria Woods your home for life requires a one-time entrance fee and ongoing monthly fees. Entrance fees start at $167,000 and monthly fees start at $3,040 for independent living. To better understand the following fees, we recommend you meet with one of our residency counselors:

Whether you’re in independent living, assisted living, skilled nursing or rehabilitation, your living accommodations, services, and amenities will be tailored to fit your personal lifestyle and changing needs. Plus, we offer contract options that refund a portion of your entrance fee to you or your heirs, preserving your estate.

Flex Your Future

This program lets you embrace the freedom of independent living by customizing your senior living cost to suit your budget. To select your entrance fee options, choose your residence now with less out of pocket, then pay the remainder of that entrance fee on a flexible timeline.

Life Care

Our Life Care contract offers a way to pay for long-term care expenses that makes them more predictable. Life Care protects you from constantly rising prices, saving you tens of thousands of dollars if you ever need long-term health care. According to the Department of Health and Human Services, 7 out of 10 adults will need long-term care at some point, with 3 years being the average length of time services are needed. Considering those statistics, having Life Care can be a financial lifesaver!

MoneyGauge calculator.

Take this two-minute assessment, powered by myLifeSite, to learn which Galleria Woods floor plan is the best financial fit for you.

Get Started

Tax advantages

You can use a portion of the proceeds from the sale of your home to cover the cost of your independent living entrance fee. The IRS has ruled that parts of both your entrance fee and monthly fee are deductible on your federal income return as prepayment of medical expenses. To learn more, consult your tax advisor.

Got a question?

Ask us anything you like about our independent living lifestyle, including your options for paying for senior living. Simply use the form on this page, or call 205-390-6600.