What are the Benefits of NDIS Plan Management?
Have you recently entered the world of National Disability Insurance Scheme (NDIS) funding or considering a change in plan management strategies? If so, we welcome you to this transformative journey, one that holds the promise of increased support and newfound independence.
The benefits of NDIS plan management include reduced administrative burden, greater flexibility when choosing services, transparent budget tracking and professional guidance. It empowers you to access a broad range of supports while ensuring a smoother claiming process, supporting you with financial planning and the ability to self manage.
Ultimately, you have the power to shape your unique path, and we are here to provide you with the essential tools, support and a trustworthy team to make this journey truly your own. As you navigate this learning process, the Maple team is here for expert guidance every step of the way.
What is NDIS plan management?
The National Disability Insurance Scheme (NDIS) plan management is a key aspect of your NDIS funding that involves the financial management and administration of your NDIS plan. When the NDIA reaches out to schedule a plan meeting, you find yourself with three fundamental options for managing your plan.
At Maple, we understand that this decision is a significant one, and it’s essential to consider your choices carefully. Every participant has the freedom to choose the plan management scenario that best suits their needs.
Here are the three types of NDIS management:
1. NDIA management:
If you choose NDIA (National Disability Insurance Agency) management, the agency connected to the NDIS will take care of all financial transactions related to your NDIS plan. This includes paying your service providers directly on your behalf.
2. Self management:
Opting for self management means that you take on the responsibility of managing your NDIS funds. You will need to keep records of your spending, pay your service providers, and submit payment claims to the NDIA for reimbursement.
3. Plan Management:
Plan management is a middle ground option where you enlist the services of a registered NDIS plan manager. This manager will handle the financial aspects of your plan, such as paying invoices and managing budgets, while still providing you with the flexibility to choose your own service providers.
What does an NDIS Plan Manager do?
An NDIS plan manager takes on the responsibility of managing your plan for you, if this is something you believe would be in your best interest. When you choose NDIS plan management your Plan Manager will:
- Handle the financial aspects of your plan including receiving and managing your funds and keeping track of budgets.
- Pay invoices to service providers on your behalf.
- Submit payment claims to the NDIA on your behalf and ensure timely reimbursement of funds.
- Assistance in developing and maintaining a budget for your funds.
- Support you in exercising greater choice and control over your supports and services.
- Provide guidance on navigating the processes, policies and procedures of the NDIS.
- Maintain accurate and detailed records of all of your financial transactions, invoices, and other relevant documentation for auditing and reporting purposes.
- Provide regular reports detailing the financial status of your NDIS plan.
- Offer support coordination services to connect with various supports and services.
- Advocate for you when dealing with service providers and the NDIA.
What are the benefits of NDIS Plan Management?
It’s essential to weigh up your options before you decide on the best NDIS management option for you. For that reason, we want to highlight the advantages of selecting plan management for your NDIS funding, ensuring you make an informed decision that aligns with your unique needs.
Flexibility in choosing service providers
Plan management allows participants to have greater flexibility in choosing their service providers. You are not limited to the providers recommended by the NDIS, and this gives you the freedom to select the services that best suit your needs and preferences.
Access to a broader range of services
With plan management, you can access a broader range of services beyond those provided by NDIS-registered providers. This flexibility enables you to explore and engage with a variety of supports that may better suit your unique circumstances.
Reduced administrative burden
Your NDIS Plan Manager handles the financial and administrative tasks related to your plan. This includes paying invoices, managing budgets, and processing claims. This can significantly reduce the administrative burden on participants, allowing you to focus more on your goals and overall well being.
Transparent financial tracking
Plan management provides participants with clear and transparent tracking of their NDIS funds. You can easily monitor your budget, expenses, and remaining funds, ensuring a better understanding of how your funding is allocated.
Assistance with budgeting and financial planning
Your Plan Manager can assist participants in developing and maintaining budgets for their NDIS funds. This support ensures that the allocated funds are utilised effectively to meet your goals.
Support towards self management
For participants who want more control over their plan but require some assistance or training, plan management provides a flexible middle-ground option. It allows participants to self manage aspects of their plan while still receiving support for other financial and administrative tasks as well as the option to transition slowly towards full self management.
Simplified claiming process
With their years of knowledge and expertise, NDIS Plan Managers can create a streamlined claiming process. They take care of submitting payment claims to the NDIA on behalf of the participant, to create a smoother and more efficient reimbursement process.
Participants can receive professional guidance and support from their NDIS Plan Manager. They can help you navigate the complexities of the NDIS system and provide valuable advice on utilising your funding more effectively.
No unnecessary expenses
If you choose NDIS plan management, it can be funded separately in your NDIS plan. This means the NDIS adjusts your funding to include payments for your NDIS Plan Manager.
Remember, the choice of plan management is yours, and it’s important to select the option that aligns with your preferences and makes it easier for you to achieve your goals and live a more fulfilling life. If you have any questions or need further clarification or guidance, feel free to get in touch with our team of experts at Maple today