Crucial Facts About NDIS Plan Management That You Should Know

by Richard Lawrence SEO

 

Living with a disability can be a very challenging, if not a totally tough thing to overcome. In Australia, it's estimated that 4.3 million people (or even more) have a disability, and in the next 5  years, the National Disability Insurance Scheme will provide more than $22 billion in funding annually to around 500,000 people who have significant and/or permanent disability. So, read on to learn about the essential, and crucial, facts about NDIS plan management.

 

NDIS Key Words

The National Disability Insurance Scheme supports the needs of those who suffer from significant or permanent disability. A Permanent disability means that the person's disability is likely to be permanent, or life-long. A significant disability means that it will have a substantial impact on the person's ability to do, or complete, everyday activities.

 

One expert also stresses that ndis plan management comes with a package of assistance or products that can help the individual in their daily life, and eventually help them to participate in the community, as well as attain their objectives in life.

 

The NDIS also enables early intervention, as it provides support to the person, either a child or adult, as early as possible to minimize the negative impacts of disability or developmental delays,  and to help the person build their skills and independence.

 

The ndis plan management can also provide individuals who have disabilities with information and connections to various services in their communities. These includes doctors, support groups, sporting clubs, schools and libraries, as well as relevant information about what support is provided by each state or territory government.

 

What the NDIS Plan Management is All About

Now, lets focus the discussion on what the ndis plan management is all about. According to experts, plan management is one of the 3 management options that NDIS participants can actually select from when it comes to effectively managing their NDIS funding.

 

The first category is called NDIA Managed (or Agency Managed). Here, the NDIA holds the funds, and pays the authorised registered service provides on behalf of the client. The second option is called Self-Managed. Here, the NDIA reimburses the individual the funding they use to manage their own NDIS supports. This allows them greater choice and flexibility, but it also means that there are many responsibilities they they need to uphold.

 

The third ndis plan management option is called Plan Managed. Here, the NDIA provides the individual's plan manager with funding, who will then pay the providers on behalf of the client, and completes their financial reporting.

 

The plan managers will also supply their client with clear and concise financial reports, which will help them keep close tabs on their budget, as well as to enable them to make informed decisions on how their funds are being spent.

 

If one of these ndis plan management options truly suits your requirements, then you can also choose a 4^th management option, which will allow you to use a combination of the above-mentioned options.

 

Plan Managers – How They Can Help You Manage Your Funds

In ndis plan management, a plan manager helps take professional care of the individual's financial side of their NDIS planning, so that they can fully enjoy all the benefits and support services that were designed for them.

 

Among the things that an ndis plan management expert does is receive invoices, either directly from the service provider, or through the NDIS participants themselves. Second the plan manager claims through the NDIS portal, and pays the service provider invoices.

 

Third, the plan manager provides their client with monthly statements, and these include the summary of expenditures, as well as the breakdown of the budget totals remaining. Depending on the manager you choose for your ndis plan management (as well as your individual circumstances), the plan manager could also act as a service intermediary, or he/she could help expand your skill set.

 

This means that the plan manager could help you select your service providers, establish agreements with your selected providers regarding services. The plan manager could also help support you as you build your financial literacy and capability, as well as help you develop self-management skills.

 

Why You Should Have a Plan Manager

If you decide to handle ndis plan management by your lonesome, I am pretty sure that you are going to have a very tough time doing it (considering that you would also be tackling the challenges of your disability).

 

One of the many advantages of hiring an expert for ndis plan management is that unlike NDIA managed funds, you can hire support from non-NDIS registered service providers, like local community members or licensed therapists who may have not yet registered.

 

Another major advantage of hiring a plan manager is that you will have a trusted partner, especially when it comes to navigating through the intricacies and bureaucratic maze of managing your NDIS funds.

 

You will also have someone who will help you make the most out of your plan. And, with a professional plan manager, you will also receive many of the perks of a self-managed NDIS fund, like the flexibility and choice regarding support services you choose, but without the messy (and mind-boggling) intricacies of administrative paperwork, or the weight of responsibility.

 

So, when do you choose a plan manager?  Well, you will generally be asked of your preferred method of ndis plan management, and this will take place during your planning meeting. Thus, it would be a very good idea to pre-plan before the meeting. At this point, you can choose a specific plan manager, otherwise you, or the person you nominate, can make the decision once the plan has been approved.

 

Finally, how much time will you need to set aside for each of the 3 ndis plan management options? Well, according to the experts, for Self-Managed, you should allow between 1 to 2 hours per week to make your claims reimbursement, or to seek funds from the NIDA for the services you wish to receive.

 

For Plan Managed, you will save time because a dedicated manager does everything for you, while for Agency Managed, you will need to log into the web portal that's run by the NDIA to view your plan.

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Created on Apr 28th 2022 02:23. Viewed 160 times.

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