P.O. Box B, Rhinelander, WI 54501, US
(715) 493-3167 (Phone) 715-420-1900 (Fax)
Representative Financial Services - FAQs
What is a Representative Payee?
Some people simply are not able to manage their own financial affairs. For these people, a relative, friend or other interested party can be appointed to handle social security matters - this person is called a "representative payee." The benefits for the recipient person are made payable to the representative payee on behalf of the recipient (establishing a payment in trust and fiduciary responsibility for the representative payee).
The representative payee must use the benefits for the personal care and well-being of the beneficiary. Excess funds must be saved on the beneficiary's behalf. Also, periodic accounting reports that shows where the benefits went - how it was spent or were it has been saved - must be filed with the Social Security Administration (SSA).
Do you or someone you know need help managing Social Security, SSI or other income to meet monthly needs?
Representative Financial Services (RFS) can help. RFS provides superior Representative Payee Service by working in partnership with Social Security and other local agencies. We assist individuals within the community to budget their income, pay bills and save for emergencies.
Why use a Representative Payee?
Sometimes because of age or disability, an individual might be unable to manage his or her own money. RFS has the expertise and experience to manage your funds in a safe and accountable environment. Selecting Representative Financial Services (RFS) to be your Rep Payee avoids any conflict of interest and provides safeguards for an individual's funds.
How much spending money will I get?
You and RFS will talk about how your money is being spent. We will show you how much money you receive and how much is spent on your needs.
What happens with your funds when you have RFS as your Rep Payee?
Your monthly benefits are directly deposited into an account for our rep payee clients and designated for your personal account. Your monthly bills are mailed directly to Representative Financial Services. We send payments for your bills out weekly. You have peace of mind knowing that your bills are paid on time. You receive a regular spending allowance based on your needs and budget. You may receive a statement at the end of each month showing the amount of your monthly benefit received, which bills were paid, how much was paid, and what your current account balance is. RFS pays you interest on your unspent funds. RFS completes all reports required by the Social Security Administration (SSA) to account for how your funds were spent.
What are the advantages of having RFS as your Representative Payee?
- RFS has an established line of communication with the Social Security Office.
- RFS is an SSA approved representative payee.
- RFS is a non-profit corporation.
- RFS tracks account balances for SSI beneficiaries to ensure that the balance does not exceed the $2,000 limit. RFS may recommend acceptable personal needs expenses to maintain your balance below $2,000.
- Our clients are billed the allowable nominal monthly amount by the Social Security Administration.
- Social Secuirty Administration (SSA) insures compliance with generally accepted accounting procedures and performs annual audits for your protection.
- RFS maintains a fidelity bond for absolute protection of your money.
Community Options Program (COP) FAQs
What is COP?
The Community Options Program (COP) is a state sponsored, county administered program designed to provide long-term supportive home care as an alternative to nursing home or institutional placement.
COP offers alternatives and options so that persons with long-term needs who are able and desire to remain in their own home/community may do so with necessary supportive services.
What does it cost?
Assessments and Case Plans are offered at no charge regardless of income. If a person is eligible for COP and desires to remain in their own home/community, a case plan will be developed taking into account services presently available as well as the individuals’ own resources.
Who is Eligible for COP?
COP is available to any county resident who is:
- Physically Disabled
- Developmentally Disabled (DD)
- Chronically Mentally Ill
- Chemical Dependent
- Frail Elderly
And:
- Has a long-term or irreversible illness or disability
- Requires ongoing assistance to maintain stability and functioning in their home/community
- Requires at least periodic medical, restorative or rehabilitative care
- Without COP would require residential and medical services in a nursing home or state center for the developmentally disabled
- Financially eligible
What Services Are Available Through COP?
- Complete assessment by a trained team of professionals
- A case plan based on the assessed needs of the individual
- Coordination of services to assist the person to remain in their own home/community if they so desire
- Information and referral about existing community services and providers
