T2040 — Financial management, self-directed, waiver; per 15 minutes
T2040 is a HCPCS Level II code for financial management, self-directed, waiver; per 15 minutes. It belongs to the National Codes for State Medicaid Agencies section. Medicare does not pay it — see the coverage note below before you bill it.
Medicare coverage: Not payable by Medicare
Medicare does not pay this code. It may still be valid for another payer, but a Medicare claim carrying it will not be reimbursed.
From the coverage field of the CMS Alpha-Numeric HCPCS File, release 2026Q3-Jul. This states Medicare’s position on the code, not on your particular claim.
Physician fee schedule statusI
Not valid for Medicare purposes. Medicare uses another code.
Global period: XXX
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The CMS record for T2040
- Long descriptor
- Financial management, self-directed, waiver; per 15 minutes
- Short descriptor
- Financial mgt waiver/15min
- Added
- October 1, 2003
- BETOS
- Z2
- Pricing indicator
- 00 — Not priced by Part B
The official wording. This is what the code means.
CMS's 28-character form, which is what shows up on a remittance advice.
When CMS introduced the code.
Berenson-Eggers Type of Service — CMS's own analytic grouping.
Service not separately priced by Part B — not covered, bundled into another service, or used by Part A only.
Codes adjacent to T2040
HCPCS has no hierarchy — related items simply sit next to each other in the numbering. If T2040 is not quite right, the correct code is very often within a few positions of it.
- T2032Residential care, not otherwise specified (nos), waiver; per month
- T2033Residential care, not otherwise specified (nos), waiver; per diem
- T2034Crisis intervention, waiver; per diem
- T2035Utility services to support medical equipment and assistive technology/devices, waiver
- T2036Therapeutic camping, overnight, waiver; each session
- T2037Therapeutic camping, day, waiver; each session
- T2038Community transition, waiver; per service
- T2039Vehicle modifications, waiver; per service
- T2041Supports brokerage, self-directed, waiver; per 15 minutes
- T2042Hospice routine home care; per diem
- T2043Hospice continuous home care; per hour
- T2044Hospice inpatient respite care; per diem
- T2045Hospice general inpatient care; per diem
- T2046Hospice long term care, room and board only; per diem
- T2047Habilitation, prevocational, waiver; per 15 minutes
- T2048Behavioral health; long-term care residential (non-acute care in a residential treatment program where stay is typically longer than 30 days), with room and board, per diem
Questions about T2040
What is HCPCS code T2040?
T2040 is a HCPCS Level II code for financial management, self-directed, waiver; per 15 minutes. It sits in the National Codes for State Medicaid Agencies section.
Does Medicare cover T2040?
The CMS HCPCS file marks T2040 as "Not payable by Medicare". Medicare does not pay this code. It may still be valid for another payer, but a Medicare claim carrying it will not be reimbursed.
How is T2040 paid under the physician fee schedule?
T2040 carries PFS status code I. Not valid for Medicare purposes. Medicare uses another code.