Plan management is one of the disability services offered and funded by the NDIS or the National Disability Insurance Scheme. The purpose of this service is to provide participants with assistance and support in managing their NDIS plan funds.
In this blog, learn more about what is NDIS plan management and its benefits.
What is Plan Management?
NDIS Plan Management provides many benefits to NDIS participants. It gives them more control over their funding, less administrative work, greater flexibility, improved financial management, better quality of service, and greater peace of mind.
If you are an NDIS participant, it is worth considering NDIS Plan Management as an option for managing your funding and accessing the services you need.
4 Ways to manage your NDIS Plan Funds
Before we head right to the benefits of choosing professional NDIS plan management, you should first know the four main ways how you can manage your funds:
- Agency
If you opt for this, you will let the NDIA or the National Disability Insurance Agency manage your NDIS funds and pay on your behalf.
- Self-managed
You have the choice to manage your NDIS plan on your own. All administrative tasks will be carried out by the participants themselves.
- Plan Managed
There are plan management providers that provide assistance for their NDIS plan funds. Similar to having an agency to assist you, a plan management provider and the plan managers assigned to the participant will be the ones who will carry out the administrative tasks. They will also be the ones who will receive and disburse funds on behalf of the participant.
- Combination
You can combine the said ways to manage your NDIS plan funds.
Benefits of Plan Management
Here are the major benefits if you will avail of NDIS plan management services.
Less administrative work
If you opt for NDIS Plan Management, you will have a plan manager who will pay your service providers on your behalf, help you keep track of your NDIS funding, keep a record of how you spend it, and help you learn new skills so you can be more independent.
Make yourself informed
Your NDIS plan manager can also help you become more informed about how to make the most of your NDIS funding. They can inform you of what service providers you can use with your NDIS funding, how much your service providers can charge you, and identify the service providers near you.
Greater flexibility
NDIS Plan Management provides greater flexibility when it comes to accessing services. You can choose from a wider range of service providers and can access services that are not typically covered by the NDIS. This means you can tailor your support to meet your specific needs and goals.
Improved financial management
NDIS Plan Management provides improved financial management by keeping track of your funding and ensuring you don’t overspend. This means you can stay within your budget and have a clear understanding of your financial situation
Greater peace of mind
NDIS Plan Management provides greater peace of mind by taking care of the administrative work for you. This means you can focus on your goals and aspirations without having to worry about managing your funding or dealing with paperwork.
Let Support Chain assist you!
If you are looking for a reliable NDIS plan management provider, you will not regret turning to us, here at Support Chain. Since NDIS plans are not one-size-fits-all, rest assured that we can assist you in customising your plan. Feel free to contact us at 0417 498 862 or [email protected] today!
