Three ways of
proving we try
a little harder.
T
First of America
=.11
•■■■
•
El
Savings
MANAG
CHECKING
If you thought all banks were
the same, we've got the people and
the products that will help you
change your mind.
First of America Connections
Saving's gives you high rate savings
when you have at least one other
account with us.
If you currently have a
Connections Savings account, we'll
give you this bonus rate when
you make an additional deposit
of $1,000 and bring in a copy of
this ad.
We're also trying harder
by offering accounts like Cash
Management Checking.
You'll get higher interest on
higher balances. As well as unlimit-
ed check writing.
If you currently have a Cash
Management. Checking account,
we'll give you this bonus rate* on
the portion of your balance over
$5,000 when you make an addi-
tional deposit of $5,000 and bring
in a copy of this ad.
400%
4.50?
.
$1,000 Minimum
H
firsRate
Why would you settle for sec-
ond best when you can have the
FirstRate Fund?
It has high rates tied to the
9I-Day Treasury Bill. It's also fully
liquid. Which gives you easy access
to your money when you need it.
If you currently have a
FirstRate Fund account, we'll give
you this bonus rate when you make
an additional deposit of $5,000 and
bring in a copy of this ad.
If your new balance is $10,000
or more, we'll give you this special
rate on your entire balance.
5.00
Balance of $25,000 or more
E
C
APY
$10,000 Minimum
At First of America Bank, we're trying harder to make banking easier for you. So,
to open an account by mail, call I -800-222-4FOA. Or visit our nearest office today.
That's a first
FIRST°FAME(IGN Bank
THE DETRO I T JEWISH NEWS
'Annual Percentage Yields (APYs) are accurate as of 1/10/97 and are subject to change without notice after account opening. For Cash Management Checking, the interest rate for the portion of
the balance above $5.000 is tied to the weekly average Federal Funds Rate less not more than 1%, which as of 1/10/97 is 5.21%. The portion of the balance $5,000 and below earns an interest rate
determined by the hank. which as of 1/10/97 is 1.15Tir. The APY ranges from 1.16% to 5.13% on $100,000. The APY for FirstRate Fund balances of 510,000 or more is tied to the 91-Day T-Bill rate.
The APY for balances below $10.000 is determined by the bank and is currently being set equal to 1.26%. Fees may reduce earnings on these accounts. Offer is available to individuals at
First of America Bank - MI/FL/IL locations only. Member FDIC. If hearing impaired. our TDD line is available from 9-5 EST at 1-800-289-4614. 01997 First of America Bank Corporation.
28
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LOSSES page 23
needs of consumers and allows
in subsequent years for funding
increases, particularly in the area
of direct care staff wages," he
said.
Ms. Keller said there could
come a day in the future, theo-
retically, when Medicaid fund-
ing bypasses CMH agencies and
goes straight into the hands of
managed care organizations.
Corporations with Orwellian
names like Greensprings and
Value Behavioral have made
deep inroads in other states and
could move into Michigan's mar-
ket as the state looks for bidders
to provide services to some 1 mil-
lion Medicaid beneficiaries.
A request for proposal, or RFP,
went out late last year that asks
managed care organizations to
bid for the privilege of serving
Michigan's Medicaid population.
The deadline is early March.
But Mr. Stein said his sense is
that managed care organizations
may not want to get into the
business of residential service
programs.
`They may be more interested
in potentially competing with
CMH agencies for state funding
or be more involved in hospital
and outpatient-type programs.
It remains to be seen whether
their interest will be to directly
operate residential services pro-
grams," he said.
The good news is that clients
may get waivers from the state
to continue to receive services
from their provider of choice, but
the provider would have to make
up the difference in cost between
its services and the services of-
fered by the winning bidder.
But social service agencies
know that once they are sharing
the arena with for-profit
providers like HMOs, they must
not only compete by bringing
their own costs down, but will
have to get a lot busier raising
funds on their own, Ms. Keller
and Ms. Jacobs agreed.
JARC raises money in a vari-
ety of ways, including selling
used cars, but it relies heavily on
one annual fund-raiser for a third
of its $5.2 million annual oper-
ating budget. The remainder of
its funds come from state and
federal sources.
The cost of supporting clients
— 150 of them in group homes
and apartments, and another
250 who are on the waiting list
and require assistance — ranges
from $20,000 to $50,000 per per-
son yearly.
Even if CMH boards are ulti-
mately cut out as the middle man
or begin choosing companies who
offer the cheapest services, Mr.
Stein doesn't believe JARC will
ever go out of business.
`The more realistic possibility
is, as the system becomes more
competitive and state funding
becomes more limited, JARC will
have more pressure to find fund-
ing from other sources." ❑