03 Jan NDIS plan management explained
Have you received an insurance payment under the National Disability Insurance Scheme?
If so, then you would have heard the term ‘plan management’ thrown around.
As part of your insurance funding you will need a professional provider, but what exactly is it?
Here is quick explanation of all things you need to know about hiring a professional provider.
What is a professional manager of this kind?
Think of your plan management provider as your own personal bookkeeper or accounts department. They provide a convenient and hassle free solution to all the invoicing needs that arise from your service providers and help you budget your funding for the life of your insurance funding.
Whether it is day to day living expenses, transport costs or capacity building projects, your plan management provider essentially acts at the middle man, requesting your funding from the NDIS and forwarding payment on to the service providers.
Does plan management affect my disability funding?
Absolutely not. Any setup fees, account keeping costs or running fees are all part of separate funding allocated to you for this precise purpose by the NDIS. Plan management will not reduce the total amount of any of your funding figures.
Does the NDIS have to allocate me funding for a professional provider?
Yes they do. Every person that is an active participant in the NDIS scheme has the right to nominate the professional of their choice. Once you have selected your professional provider, the NDIS cannot refuse this request meaning you will be assured the funding for your plan management completely separate to any amount allocated for your disability funding.
Does my professional provider need to be local?
Not necessarily. It is up to you who you choose for your plan management, not the NDIS. Therefore, you can research and select any professional company you choose.
Some people prefer locally based providers because they are familiar with the service providers in their area and may already have a working relationship with them, and also because of the convenience of being in the same time zone if you seek to reach them during business hours.
Now you know the basics about plan management, here are some great tips of what to look for when making your selection-
There are around 4 million Australians with a disability, so this gives a great pool of potential customers who have had dealings with NDIS professional providers.
Look online for user reviews and feedback, this will serve as a great guide to help you select the right provider.
Many of the service providers you are likely already using would have dealings with plan management providers on a daily basis.
Speak to some of them to see how their experience has been.
Small things like promptly paying invoices and keeping your budget right up to date can eliminate unwanted hassles in your routine.
Secure and safe-
As part of your NDIS insurance funding, there is a real potential for there to be a large pool of funding sitting in your name.
There is also the need for a lot of billing and invoicing to be forwarded electronically.
Be certain that you deal with a plan management provider that has excellent cyber security and safety protocols in place to ensure that only the right people have access to your funding.
Plan management is an excellent service provided at no cost to participants of the National Disability Insurance Scheme.
Armed with this explanation and these few handy hints, hopefully you are now ready to make the right choice of professional provider.