Getting funding from the NDIA is one thing, but taking care of these funds so they cater to all your needs is another. Doing so is only possible with plan management. You should hire an NDIS plan manager for effective plan management.
NDIS plan management is a service that manages NDIS funding for people with disabilities in Australia. It involves paying providers, tracking funds, and ensuring the participant’s financial planning is in check.
So does every participant need plan management? Read on to learn more about its services and benefits.
What Does Plan Management Entail?
NDIS plan management is an intermediary between participants, service providers, and the NDIA. It is a paid service and supports you in managing your NDIS funding. The other options during plan management include:
- Agency management
- Self-management
- A combination of agency and self-management
With this service, you can feel assured that your funding caters to the right needs. It also promotes a better life for persons with disability in Australia.
The Benefits of Plan Management
If you’re unsure about getting a company to manage your funds, here are the advantages of this service to prove its importance. The government developed this program to assist people with disabilities in Australia in making the most of their funding.
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Saved Time
Although self-management is an option, it takes time and commitment to claim funds from the NDIS. On top of that, you must track expenditures to save money before plan reviews. While self-management is possible, agency management prevents you from dealing with various accounts teams. Instead, agencies handle the different providers and administrative duties, fine-tuning your support.
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Improved Fund Security
NDIS plan management is more secure because professionals handle it. Plan managers are bookkeepers, qualified accountants, and trained individuals with management skills approved by the NDIS. When working with a competent manager, you can be sure your funding is safe. Plan managers work hand-in-hand with the NDIS pricing, avoiding overcharging for participants.
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Better Organisation
Plan management is dedicated to record-keeping and reporting. For instance, your plan manager provides monthly statements to see what the funding does. The advantage of this is the help it gives to participants when planning for NDIS plan reviews. Good plan managers allow participants to log into their systems to check invoice status, see budgeting information, and approve payments. This access makes it easier for participants to access information and ask relevant questions.
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Control and Flexibility
Plan management is flexible because it does not restrict participants to NDIS-registered service providers. If you have a trusted independent health professional, you can still use NDIS funding. The only catch is that the services must be within the price guide.
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NDIS Plan Management is “Free”
Participants under the NDIS request funds to pay for plan management aside from the money they receive for support. The government provides additional funding for plan management, eliminating participants’ need to pay extra.
Conclusion
Plan management for NDIS participants is inevitable since it ensures service providers are paid and all participant needs get adequate funding. Get the best NDIS plan manager today to receive stellar services and prevent fund loss.