Benefits are directly deposited into a Rep Payee account, and the Rep Payee works with the consumer to manage funds and ensure that needs and payment obligations are being met. There is a set fee per month to provide this service as set by the Social Security Administration.
What are the duties of a Rep Payee?
- Determine the beneficiary’s needs and use his or her payments to meet those needs
- Save any money left after meeting the beneficiary’s current needs in a bank account for the beneficiary’s future needs
- Report any changes or events which could affect the beneficiary’s eligibility for benefits or payment
- Keep records of all payments received and how they were spent and saved
- Provide benefit information to social service agencies or medical facilities that serve the beneficiary
- Complete written reports accounting for use of funds
- Return any payments to which the beneficiary is not entitled