Why NDIS Plan Managers Are Your Best Option
Knowing what your plan management options are is essential to knowing the value of NDIS plan managers. NDIS planning is important for NDIS participants when it comes to their NDIS funds and they could choose one of the four options that are given to them.
When it comes to agency managed NDIS planning, form the NDIS portal, it will be the NDIA that will be responsible in paying the provider and in taking care of your funds. About 68% of NDIS participants have chosen such as plan management scheme. The second type of NDIS planning option is what you call self-managed where the NDIS participants will be the ones to directly receive the invoices and then must take care of paying on time. Such NDIS participants may opt to secure their invoices first and then later on get their reimbursement from the NDIS portal. For some NDIS participants, they choose to get their invoice amount first from the portal of the NDIA, and after that will proceed in paying the funds after receipt. The third plan management option is that you call plan managed where the plan will be managed by a NDIS financial intermediary. These NDIS plan managers will receive invoices from the providers and could eb bookkeepers or accountants. And your last NDIS planning option will be to combine the three other NDIS planning options.
Here you will learn more about plan management and what roles these NDIS plan managers are taking. In essence, plan management carries with it the function of being a financial intermediary. When it comes to these NDIS plan managers, do know that they pay invoices, make claims from the NDIS portal, and receive invoices from the provider directly or from the participant. The plan managers are also the ones that can give you a monthly statement of your expenditures and budget from your expenditure summary as well as a complete breakdown of the remaining budget totals that you have.
Those just mentioned above are their basic functions but these plan managers can also serve as skills builders or intermediaries to provide support to the NDIS participant. These NDIS plan managers are capable of developing your self-management capabilities as well as in being able to establish some service agreements with your providers. Such plan managers again help you build up your knowledge and skills in finances and will let you consider what budgeting scenarios and options are out there for your choosing.
Hiring NDIS plan managers can benefit you in more ways than one. To start, you can take hold of supports from providers that are not registered by NDIS. With help from NDIS plan managers, you will not use the portal of the NDIS anymore. By hiring plan managers, the NDIS can be navigated by you better and you can make the most benefit from your plan. By doing plan management, you get the benefit of having control and choice while making sure to leave your administrative burden to your plan managers.