Foster child expenses, including room and board, clothing, recreation and medical fees, add up to significant amounts for some families. Foster programs are covered by state budgets so you can be reimbursed for most of these costs.
Instructions
1. Keep records of all of the costs associated with your foster care. Make your records in a format that is easily reproducible, because you may have to submit them to the foster agency and State Department of Health and Human Services, in addition to keeping several copies for your own records.
2. Find out the amount of your monthly stipend to cover the foster child's living expenses. In most areas, your stipend will depend on the age of the child that you are hosting. Expect to receive the check monthly or weekly, depending on the state that you live in.
3. Request information on the state-subsidized health care that is provided to your foster children. Ask for a list of doctors in your area that will accept this insurance, but note that some states will provide separate dental coverage. Keep a list of medications that are covered by state health and remember that you must have a prescription to be reimbursed.
4. Budget to spend the additional quarterly stipend for school recreational activities and clothing. Record this information separately from the living expenses. Ask the school for a receipt for extracurricular expenses.
5. Go over your expenses with a state worker when your foster care is audited every 6 months. In most cases, you cannot be reimbursed for exceeding the stipend amount, although special circumstances are handled on a case-by-case basis.
6. Talk to a financial adviser about report the foster care stipend and reimbursed money. You do not need to list it as earned income unless you receive a 1099 form from the state. Ask whether you can list the foster child as a dependent and then be partially reimbursed by taking deductions related to foster-care expenses.
Tags: foster care, your foster, covered state, foster child, living expenses, your foster care