Introduction
One of the first and foremost considerations when hiring an NDIS plan manager is NDIS service pricing. What are NDIS plan management costs? Are there any hidden costs that you should know about? How much will it cost you in the large scheme of things?
In this article, we share with you a complete breakdown of NDIS plan manager fees, including their service fee and hidden costs, so that you can make an informed decision.
What is the NDIS Plan Management Fee?
If you hire a plan manager, you will be required to pay them for their services. Since they will be professionally managing your finances, this fee will be covered under your NDIS plan. Their services also include budgeting, reporting, invoicing, submitting payments and claims, and all other relevant administrative tasks.
Fee & Hidden Costs Breakdown to Hire an NDIS Plan Manager
As mentioned above, the cost of plan management is included in your plan under the “Improved Life Choices” category. This means that you don’t have to pay a plan manager out of your pocket, and you can simply choose to hire the right fit under the cost allocated towards a plan manager within your plan. But what does a plan management fee entail? To help you understand the cost clearly, we give you a detailed breakdown below:
- The first is a one-time set-up fee where a plan manager creates a tailored plan to manage your funding. This also includes relevant administrative tasks that they expect to undertake during this time. This initial cost will be approximately $235, as this is the NDIA price cap on plan management services.
- The second is a fixed monthly fee that they charge for managing your plan that includes ongoing services such as financial reporting, tracking expenditures, and making sure that everything complies with the NDIS norms and guidelines. The ongoing monthly fee will likely be approximately $100. As a part of this fee, the plan manager will manage a participant’s funding on their behalf.
It is crucial to note here that there are no hidden costs when it comes to hiring a plan manager, and no plan manager should tell you otherwise. It is important to choose an NDIS plan manager wisely to ensure that they are not just competent and can help manage your NDIS funding but that they are also brutally honest, transparent, reliable, and trustworthy. In addition to that, a good NDIS plan manager will also be excellent at communication and will constantly keep you in the loop about your expenditures. They will also make it a point to sit down with you from time to time to discuss your needs and personal goals to ensure you are both on the same page and working towards meeting your aspirations.
Bottom Line
As you can see, this is a clear breakdown of the cost of an NDIS plan manager sydney. Understanding this cost breakdown is vital to receiving support and flexibility under your NDIS funding. Always weigh all the pros and cons before you hire one so that you don’t end up regretting your decision in the long run.
