If you are one of the beneficiaries of the NDIS funding plan, you should consider plan management. This process is getting help from a third-party provider to support look after your NDIS funding. The person who helps you in this process is called a plan manager.
While you can have NDIA take care of your NDIS funding, having a personal expert for your fund is always ideal. This solution comes with plenty of advantages and offers several options on your funding. However, it is essential to be careful when choosing a funds professional to reap the benefits.
Why is having a plan manager important?
As mentioned, NDIS participants can benefit from a plan manager in many ways. It becomes easier to handle your NDIS when you have good organisers. Participants can choose one of the three ways to organise their funds. These include self-controlled, NDIS-controlled, and plan-managed. Many prefer hiring these experts to help with their NDIS plans.
Plan managers help you control NDIS funding and not to overspend it. They help participants reach their NDIS goals by taking care of the monetary and administrative aspects of the plan. Here are other ways choosing an experienced professional will come in handy.
- These experts help to improve your financial and organisation skills
- They enable you to learn how to independently run your NDIS funding plan
- They handle your providers’ payments
- They help in claiming your NDIS funds
- These professionals help you choose suitable providers
- They receive NDIS financial reports and provide greater budget supervision
Top qualities of a good plan manager
Many people go with these professionals because they provide plenty of advantages. Since there are many plan managers in the market, it becomes difficult to choose a suitable one. Many people pose as these experts, but most don’t fit the criteria. We have gathered top qualities to look for when hiring a professional like this. These will help you choose better.
· NDIS registered
The first thing you need to consider before hiring a plan manager is whether they are registered as NDIS professionals or not. A registered provider comes with many advantages in contrast with an unregistered. The best bit about having a registered provider is that they can submit your claims through the online NDIS portal. This is something an unregistered provider can’t do.
· Financial expertise
Having sufficient financial expertise is essential for an expert like this. This is necessary to enable NDIS participants to utilize their funds properly. The plan managers will be responsible for making payments to your service providers. Thus, they should be financially enlightened to make better choices so that the funds can last till the required duration.
Maintaining transparency from the start is essential for the process. Therefore, having a platform that is easily accessible by the participants will keep things clear. On the platform, you can view all your transactions as they happen.
· Excellent communication
Plan managers should provide all the information required throughout the plan. Doing this makes the participants feel included in the plan. Trusting them can be easy since all communication is clear and straightforward.
· Provide choice and control
An expert should only help you with the organisation of the funds. They should, however, allow the participant the choice and control over whatever happens to all the other things. A professional understands your needs and helps you to become more independent.
Having your NDIS funding taken care of by professionals provides great convenience. Plan managers help many people reach their NDIS goals while helping you to organise your funding appropriately. Others go to the extent of offering financial advice to enable you to use the funds as expected.