Yes, satellites at geostationary orbit at the end of their life are put into a Graveyard orbit which is over 235 km above geostationary (exact height depends on aspect area to mass ratio of the satellite).
There is no decay due to atmospheric drag. No appreciable atmosphere there anyway - and if there was atmosphere then it would be in geostationary orbit around the Earth anyway.
Orbits decay less depending on height and on the solar weather, which heats up the thermosphere, and this changes density of the upper atmosphere.
There's an online orbital decay calculator here to get an approximate idea for lifetime of a satellite at various heights - where you have to enter the average solar flux. These satellites orbit in the Thermosphere, and the density of the atmosphere depends on how much it is heated by the solar flux from the sun.