Before you will learn more about NDIS plan managers as what the title promises, you have to know what plan management is. When it comes to NDIS participants, each will be given NDIS funds and to be able to manage them properly, NDIS planning is necessary.
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. For some NDIS participants, they pay their invoices first and then after that, they will be collecting their reimbursement with the use of the NDIS portal. Their other option requires claiming the invoice amount from the NDIA first and then paying them after the funds are received. The third option is the plan managed where a NDIS financial intermediary will be the one managing the plan. Such NDIS plan managers can either be a bookkeeper or an account that will be invoiced by the service providers. And your last NDIS planning option will be to combine the three other NDIS planning options.
This article will focus more on plan management and now with what you can expect from NDIS plan managers. In essence, plan management carries with it the function of being 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.
As an NDIS participant, you will be supported by them through acts that will let you become their intermediary and be able to build on your skills. 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.
There are a lot of benefits to hiring NDIS plan managers. To start, you can take hold of supports from providers that are not registered by NDIS. You need not utilize the NDIS portal with NDIS plan managers. With plan managers, you will be able to navigate the NDIS better and ensure that you will make the most of your plan. With plan management, you get both control and choice like self-management but free from the administrative roles.