Financial management services (FMS) are an essential aspect of the Self-Determination Program (SDP). The bill payer FMS model is an option for those who plan to receive services from third-party providers but have no interest in hiring or overseeing their own employees. Here’s what you should know about this model and how to tell if it’s best for you.
What is an FMS?
When enrolling in the Self-Determination Program (SDP), participants are required to use a financial management service (FMS). There are multiple types of financial management services that offer different levels of support and cover a variety of responsibilities.
An FMS assists families in managing their individual SDP budget by helping execute a spending plan, delivering payments for services, and maintaining routine budget reports. The different FMS models offer flexibility in the work they do, so it’s important to choose the model that best suits your needs.
The FMS is paid via an individual’s SDP budget, but the costs can vary depending on the specific model and provider.
How Does the Bill Payer Model Work?
When families elect to use the bill payer FMS model, they do not hire employees. Instead, they use third-party providers with their own staff, and payments are made by their FMS from their individual SDP budget.
Also referred to as the fiscal agent model, this route requires the least amount of work for SDP participants, as they can skip the hiring process and do not act as employers themselves.
Pros and Cons of the Bill Payer Model
When choosing the FMS model that works best for you, it’s essential to understand the differences, as well as the potential advantages and disadvantages of each setup.
Here are some pros and cons of the bill payer model:
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Is the Bill Payer Model Right for Me?
The bill payer model is best for those who don’t plan to hire their own employees as part of their SDP plan. If you plan to hire help yourself, the bill payer model doesn’t offer support, and you won’t be able to pay employees with your SDP budget.
If you have no interest in being an employer or co-employer, the bill payer model is for you.
Learn More about SDP Budgeting & Payments
If you’re new to the SDP or are still learning the ins and outs of the program, NeuroNav is here to help. Our independent facilitation services are here to guide you through the enrollment process and provide ongoing support for those who need it.
As your source for all things SDP, we’ll help you understand the budgeting, payments, and financial details that will help you get the disability support you need to achieve your goals. Schedule your free consultation today to get started!
