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The Basics of NDIS Plan Managers

topinvestmenttipsandguideSep 17, 2018, 9:46:03 PM
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Before you will learn more about NDIS plan manager as what the title promises, you have to know what plan management is. Basically, if you are an NDIS participant, you will be choosing between four options of NDIS planningfor your NDIS funds.

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. This is eventually the most common NIDS plan management choice participants have made, about 68% of them. You call the second NDIS planning option as self-managed where you are the one getting the invoices as the NDIS participant and is in charge of paying 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. Another option that these NIDS participants can do is to claim the invoice amount that is declared by the NDIA on their portal and after that once their funds are received, they will pay them then. For the third option you call plan managed, the plan will be managed accordingly by an NDIS financial intermediary. Usually, bookkeepers and accountants take the role of NDIS plan manager where they are the ones being invoiced by the providers. 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. A plan management actually serves as a financial intermediary. Basically, these NDIS plan managers take charge in paying invoices, receiving invoices via the participant and directly from the provider, and claiming from the NDIS portal. 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.

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. As NDIS plan managers, they must be able to make service agreements with your providers and must help in developing capabilities of self-management. Being able to explore on your many budgeting scenarios and options and in building your being financial literate are the other tasks that these plan managers do.

Hiring NDIS Plan manager can benefit you in more ways than one. To start, you can take hold of supports from providers that are not registered by NDIS. No need to use the NDIS portal if you have an NDIS plan manager with you. 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.