When it comes to managing and accounting for your NDIS funding, payments and expenses, the NDIA have a certain set of rules and regulations that need to be followed. Sound stressful? It can be! With the help of a Plan Manager, you can live your best life free from the financial stress of managing your NDIS funding.
What are my options?
No matter where you are in your NDIS plan, it’s important to consider what options you have for managing your NDIS funding.
Agency Managed: The National Disability Insurance Agency (NDIA) can provide financial management for participants. However, as an Agency Managed participant you’ll only have access to service providers who have taken the time to register their supports and services with the NDIA.
Self-Managed: With Self-Management, you’ll be responsible for managing, recording, and keeping track of your NDIS funds. You’ll be able to choose both NDIS registered and unregistered providers who you’ll need to pay directly.
Plan Managed: When it comes to stress-free choice and control for managing your NDIS funding, Plan Management gives you the best of both worlds. You can engage a Plan Manager at no out-of-pocket expense to help you manage your plan funding. Just like with Self-Management, you can choose from registered and unregistered service providers. Your Plan Manager will coordinate the invoices, claims and payments on your behalf, leaving you to focus on your goals and to live your life.
What exactly does a Plan Manager do?
Your Plan Manager will act as your personal NDIS accountant, helping you navigate the NDIS, track your goals and stay financially accountable.
A Plan Manager is responsible for:
Helping you understand your funding and how you can make the most of your plan;
Receiving invoices and paying your providers for their services;
Claiming funds from the NDIS portal;
Adhering to the NDIS Price Guide;
Keeping track of your funds;
Providing regular budget reports so you can get the best value from your plan; and
Managing financial reporting for your NDIS plan review and auditing.
First2Care: Your Plan Management Secret Weapon
You might think that having a Plan Manager will be a huge out-of-pocket expense. Luckily, it's the opposite. Having a Plan Manager included in your NDIS plan comes at no extra cost to you. If engaging a Plan Manager is the right move for you, the NDIA can add extra funds to your NDIS plan, so your service and support costs are never compromised. To make this happen, let your LAC or NDIA representative know in your next planning meeting. It’s as easy as that.
At First2Care, we believe in empowering you to achieve your goals without the stress. By providing transparent financial assistance, you can be confident knowing the team at First2Care have got your back. Leaving you to focus on what’s important – you.
Read more about the benefits of working with an independent, professional Plan Manager.