What are Financial Management Services?
A Financial Management Service (FMS) is the only required service for the Self-Determination Program. An FMS helps participants and their families manage their budget, pay bills to vendors, and process payroll for support workers that are hired.
What are the models of FMS?
There are three program models to choose from:
Sole employer: You will be the legal employer of any workers you hire. The FMS will be your payroll agent and will pay employees directly as well as handle all payroll taxes. This model gives you the most control.
Co-employer: You and the FMS jointly employ any support workers that you hire. You and the FMS will share some of the employer's responsibilities. You will still be responsible for choosing, hiring, scheduling, and training your workers. Since employees are jointly employed with the FMS, some FMS policies may apply to your employees.
Bill payer: This model is chosen when your FMS is only responsible for paying bills for goods or services to businesses. The FMS pays vendors for the items approved in your spending plan. This model is not used when you are directly hiring support workers.