The NDIS / National Disability Insurance Scheme gives you choice and control of the services and support you need in order for you to achieve your goals. One of the challenging tasks that you need to do when you become an NDIS participant is managing your funds. Securing the right support and services will not be the end of your story, you will need to ensure that you are on track in terms of your budget and that you are not underspending or overspending as this will have an impact on your finances for your future NDIS plan. Here, we have defined the 3 ways which you can manage your funds:
1. NDIA (Agency Managed) : This is the default support that NDIS can give as a means to managing your funds. NDIA will manage your invoices and pay your providers on time. However, this option limits you to NDIS registered providers. This means that you will not have the liberty to choose the service provider that you want. This is where the Yogi Care’s plan management can help
2. Self-Managed: from the word itself, it is doing everything on your own, from managing your invoices, paying your providers on time, management of service agreements, finding and connecting with the right service providers and managing invoices plus audits. You will also have to anticipate that you might run low on cash since you have to wait for the reimbursements to be processed. This again, is where the Yogi Care can help.
3. Plan Management: is very practical way to manage your funds. It is basically having someone else to do it for you at zero cost. With Plan Management, the manager will be responsible in processing your invoice, ensuring that the providers are paid on time. You will have access to your own portal online and can update your spending. You will also have access to all the service providers may it be NDIS or non NDIS registered. Want more good news? This service comes at no additional cost to you. All you need to do is request it during your Plan Meeting or Plan Review. You can also add it at any time by simple request. This is referred as light-review.
Managing your NDIS funds should not be added on your workload, your energy and time should focus on how you will be able to reach your goals. Let Yogi Care to take your stress out of NDIS.
Be a part of our growing family, don’t hesitate to contact us: help@yogicare.com.au or give us a call: 08 7082 5555.
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