Money Management and Subsidies
Subsidies
Chrysalis has a dedicated accounting team devoted solely to obtaining, monitoring, and maintaining individual's eligibility in life sustaining programs such as:
- Medicaid
- Medicare
- Social Security
- Food stamps
- and Housing Assistance Programs
Parents and guardians really appreciate this included service because they no longer have to stay abreast of complicated compliance issues, mail in paystubs, schedule annual reviews, fill out paperwork, or deal with accounting issues.
PayCard System
Chrysalis has developed a state of the art program which allows us to efficiently manage client's Social Security and other income. Chrysalis has partnered with Wells Fargo Bank to provide our clients with safe and reliable financial services.
Client's Social Security money is deposited into an FDIC insured bank account. Chrysalis accountants pay the individual's rent, utilities, medical bills, and other recurring bills. Each individual is issued their own Visa Debit Card with a capped spending limit. They use their PayCard to pay for food, personal needs, and recreational outings (See Figure 1 below).
Our system puts first things first and ensures the individual's most important needs are taken care of each month. Our system also provides an excellent paper trail so parents, guardians and auditors know exactly where the individual's money is being spent.
The Chrysalis PayCard program has revolutionized client money management. Some of the benefits of the PayCard program include:
- No bounced checks or overdrawn account fees
- Rent is always paid on time
- Utilities are not shut off
- A clear bank record of every transaction
- No check reordering fees
- Complete compliance with Social Security Regulations
- The individual's money is budgeted so basic needs are always taken care of
Figure 1. Chrysalis PayCard System