Financial Management Services in Participant Direction Programs
summary
This policy brief seeks to inform the design and implementation of the CLASS Plan using experience from the provision of Financial Management Services (FMS) in participant direction. We seek to present strategies for maximizing FMS benefits in the CLASS Plan.
Date Updated: 04/06/2011
Participant direction programs offer participants choice of and control over their long-term services and supports. As choice and control increase, so too do certain fiduciary responsibilities, including those associated with being an employer, managing funds for services, and handling payroll and employer-related taxes and insurance. To date, existing participant direction programs have often used a Financial Management Services (FMS) function to support employment-related tax and insurance compliance for participants as well as for program fiscal accountability. FMS have also been used to reduce the employer-related…
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