The Power of a Plan.

YES! There is a pre-paid medical tax benefit recognized by the IRS for both the entrance fee and monthly fee. The year the entrance fee (the cost of the residence) is paid, a portion can be deducted, attributed to future care. While living in the community, a percentage of the monthly fee is considered deductible for this purpose as well. Each year, The Woodlands will calculate the cost of operating its care center and share what percentage may be deducted. To maximize tax benefits, speak with a tax professional.

An important part of planning for the future is thinking about your care needs. How will your needs be funded, and who will oversee those care needs? And most importantly, how can I maintain control over these decisions and not burden my family? Living in a Life Plan Community addresses all of these issues. With your decision of choosing to live in a Life Plan Community, should you need assisted living, memory care or skilled nursing care, these are all pre-planned. And all at a predictable monthly fee to protect your assets.

If you have a Long-Term Care insurance policy, you might be eligible to receive benefits if you need assisted living, memory care or skilled nursing care. Your policy may work hand in hand with Life Care and pay earned benefits directly to you — but you should consult your insurance carrier for specific details about your policy. However, without access to a full continuum of care, couples can be split up if one requires specialty care. That is much less likely to happen in a Life Care Community.

Your entrance fee is a one-time payment based on the size of the residence you choose. Payment of this fee entitles you to lifetime residence at The Woodlands at Furman and the availability of unlimited care. Entrance fees may be partially refundable depending on the plan selected. Ask your Life Care advisors for specifics. 

The Woodlands is a not-for-profit organization. To the extent possible, while keeping the financial health of the community in mind, we pledge to provide viable options to those whose resources become depleted. When an entrance fee resident runs out of money due to no fault of their own, an advisory board will request the family apply for assistance from our community's Benevolence Fund.   

The independent living monthly service fees vary based on the size of your residence and the number of occupants. This comprehensive fee covers a variety of services and amenities, including your meal plan, maintenance, housekeeping, utilities, scheduled transportation, concierge services, fitness center, activities and events and much more.