Time to find a Fiscal Intermediary? This is what you need to know:
Fiscal Intermediary (FI) to assists individuals in exercising budget authority. Individuals can perform some or all of the FI functions themselves. Typically, however, individuals prefer that the FI entity performs these functions for them. FI helps individuals:
- Understand billing and documentation responsibilities;
- Perform payroll and employer-related duties (e.g., withholding and filing federal, state, local and unemployment taxes; purchasing workers’ compensation or other forms of insurance; collecting and processing worker timesheets; calculating and processing employee benefits; and issuing payroll checks);
- Purchase approved goods and services;
- Track and monitor individual budget expenditures; and
- Identify expenditures that are over or under the budget.
The above info is from Medicaid.gov – Self -Directed Services
An Educated Customer is an Empowered Customer
The two charts in the attachments below are specific to FI’s in each region. Please review the information carefully as you work with your Support Broker to select an FI. Every aspect of the decisions you make moving forward will be built on your understanding of how each FI operates.