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.
You call the first NDIS planning option as agency managed where only the NDIA will be paying the providers and will be taking care of your funds. This is what most NIDS participants go for in managing their plans where about 68% of participants choose to go for. Self-managed is the second option of NDIS planning that involves being sent some invoices directly as the NDIS participant where you are kept in charge of dealing with your payments on time. These NDIS participants have the option to pay for their invoice first and then use the NDIS portal to get their claim reimbursement. 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. A combination of the other NDIS planning options is the last option for you.
This article will focus more on plan management and now with what you can expect from NDIS plan managers. A plan management actually serves as a financial intermediary. The basic function of an NDIS plan manager includes claiming from the NDIS portal, receiving invoices from the participant or from the provider directly, and in paying invoices. These plan managers also take charge in the provision of monthly statement to the participant such as the breakdown of the remaining budget totals as well as a summary of your expenditure.
You can also expect these plan managers to be providing you with skills builder and intermediary services to support your being an 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. One benefit of NDIS plan managers is their allowing you to get supports from providers that are not registered by the NDIS. You need not utilize the NDIS portal with NDIS plan managers. 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.