Every country has an organization providing support for people with disabilities. In Australia, they have the NDIS, an organization helping disabled people in various ways to live a confident and independent life.
Why NDIS Plan Management?
The governing body allows its participants to choose between three choices for assistance with handling their NDIS funds. These are:
To help you decide on a management option, here is a brief description of the other three options so you can weigh out your choices.
- Agency (NDIA) managed: The National Disability Insurance Agency (NDIA), a government agency, manages your funds and pays the providers for you.
- Self-managed: You do everything by yourself, from claiming from the NDIS portal, managing your funds, and paying your bills and providers. While it gives you independence and lesser deductibles, self-management often leads participants to mismanagement funds. People People who raise their eyebrows while asking what is plan management and why should they avail it when they can do self-managed plans are not aware of these circumstances.
- Combination: Comprising the other three options together is a good option. You and your family can directly organize the providers’ support and have a plan manager to do the paperwork.
Suffice to say, a plan manager claims the fund from the NDIS provider portal on your behalf, manages it, pays your bills, and keeps a close eye on your budget, making sure you will have enough to attend to your needs.
The Biggest Benefits Of Having An NDIS Plan Management
Getting yourself professional plan management will help you in managing your NDIS funds in various ways. Here are the five most significant benefits you can consider:
It Saves You Time And Reduces Stress
Managing an NDIS plan alone can cause a lot of stress. It will also eat up a chunk of your time you could have used for something else. However, with the help of plan management, you won’t have to deal with the hassle of claiming your fund, paying your providers, and keeping track of your expenditures. The plan manager will do all of them on your behalf.
Sense Of Security And Peace Of Mind
When you choose plan management, the plan managers are qualified bookkeepers and accountants approved by NDIS providers. You can relax knowing that your fund is in good hands. Their job is to make sure all the invoices you receive are in line with NDIS Price so you won’t be overcharged.
A plan manager will provide you with monthly statements to know where and how your funds are spent. It will prepare you for the time of plan review.
Flexibility And Choices
Plan management allows you to receive support from providers that are not NDIS registered. You can avail of any services you want as long as it is compliant with the NDIS Price Guide.
You Don’t Have To Pay For It With Your Money
If you have an NDIS plan, you can request funding for plan management so you won’t have to pay for it. The budget will come from an additional fund, so there’s no need to worry that it’ll charge you a fee non-deductible from what the NDIS gives you.
NDIS plan management gives you a wider range of providers while saving you enough time. It is the best option to spare yourself from doing all the dirty work so that you can focus on using the funds properly for the betterment of your life.