NDIS is the perfect way that the government delivers personalized support to people living with disabilities and their caregivers. It is the short form for National Disability Insurance Scheme established by the Australian government. The main goal of the scheme is to provide the Australian citizens who are disabled and under 65 years with significant support for them to lead a normal life.
Participants who are eligible for the category are issued with a plan of supports that is personalized to their specific needs. The plan consists of informal supports from family and friends and the community at large. In this case, the NDIS provides reasonable funds to facilitate any support towards the participants.
With NDIS, you can receive excellent care and to the fullest. Today, we focus on the benefits of having NDIS plan management in the section below.
What is NDIS Plan Management?
As the name suggests, it is a facility that offers to watch over your NDIS funding. The plan manager takes all the duties that involve the NDIS to ensure you receive perfect care from the people surrounding you. For starters, the plan manager pays your caregivers from your funding and helps to monitor the funds while handling your financial planning.
If you are worried that you will lose your funding while paying your plan manager, worry no more. This is because NDIS plan management receives payment from the Capacity Building budget. It is a win-win situation when you opt for a plan manager.
Are there any alternatives?
There are other ways to manage your NDIS funds. These include Agency or NDIA managed, self-managed, or using both.
NDIA managed is the default system of managing funds. Here, the agency only pays for NDIS registered providers. In self-managed, you are in charge of the NDIS funding and everything surrounding the finances.
What are the benefits?
There are other ways other than NDIS plan management. However, they are not as effective as having a plan manager for your funds. For instance, if you choose the self-managed option, you must claim the NDIS funds to pay the providers. This also means that you will monitor your expenditure.
However, with NDIS plan management, you can save your precious time and let the experts handle everything for you. Besides, you will no longer have to stress keeping track of your funds as the plan manager deals with the accounting team on your behalf.
· Provides Security
It involves skilled accountants and bookkeepers who are also accredited NDIS providers. That said, you are guaranteed that your funds will be safe. One of their responsibilities is ensuring that every incoming invoice complies with the NDIS price guide to avoid overcharges.
· Keeps everything organized
NDIS plan management is the perfect solution when you need to keep your records fault-free and organized. The plan manager of your choosing will monitor all your records and issue your monthly statements to see your expenditure. In doing so, the plan manager helps you to stay well-prepared until your next plan review. Some facilities will allow you access to their online portals where you get to see the invoices, budgets and also approve various payments from anywhere.
· Provides flexibility and control
When comparing other NDIS management plans, you will find that choosing NDIS plan management is better in terms of flexibility and choice. This means that you can acquire services from unregistered NDIS providers of your choosing. The plan management team will claim the cost from your funding provided that the cost doesn’t surpass the NDIS Price Guide.
Having NDIS plan management is the best way to live peacefully and stress-free. Everything is handled by professionals on your behalf. The best part is that it is free as no money is deducted from your budget to pay the plan managers.