Options for Covering Senior Living Costs

Achieving your dream retirement starts with our financial options.

As more and more seniors enjoy longer and healthier lives happily following goals and dreams, they’re realizing their savings have to stretch a lot further. That’s why many of them believe having a smart plan for the future is the most important thing they can do. As you explore your retirement community choices and learn about the cost of senior living, you may wonder if there’s an option that will work for your lifestyle and budget.

As a Life Plan Community, Freedom Village offers an independent way of life featuring services and amenities you can enjoy throughout your retirement years. Plus, with our Life Care contract, you’ll have true peace of mind knowing a full continuum of high-quality care is always available on-site at predictable monthly rates.

Entrance fee and monthly fees

To make Freedom Village your home for life, all you have to do is pay a one-time entrance fee and ongoing monthly fees. For a better understanding of what these fees cover, here’s what they include:

Whether you’re in independent living, assisted living, memory care, skilled nursing or rehabilitation, your living accommodations, services, and amenities can be adjusted to suit your lifestyle and future needs. Plus, we offer contract options that refund a portion of your entrance fee to you or your heirs, protecting your assets and ensuring your legacy.

Flex Your Future

This program lets more seniors embrace the freedom of independent living by tailoring their senior living costs to suit their budget. If you want to customize your entrance fee, simply select 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 predictable way to pay for long-term care expenses while protecting you from constantly rising prices. According to the Department of Health and Human Services, 7 out of 10 adults will need long-term care at some point for an average of 3 years. If you ever need long-term health care, having a Life Care contact can save you tens of thousands of dollars.

MoneyGauge calculator.

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

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Tax advantages

Lots of our residents use a part of the proceeds from the sale of their home to fund the cost of their independent living entrance fee. The IRS has ruled that some of both your entrance fee and monthly fee are tax-deductible 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 how to pay for senior living. Simply use the form on this page, or call 616-200-7271.