Service
Plan Management (NDIS)
NDIS (Plan Management)
NDIS Registration Number: 431532028
Reserve Wealth is a registered provider of National Disability Insurance Scheme (NDIS) services. NDIS is an insurance support scheme of the Australian Government, which funds costs associated with intellectual, physical, sensory, cognitive or psychosocial disability.
The funding scheme provides people having a "permanent and significant" disability with full funding for any "reasonable and necessary" support needs related to their disability. The publicly funded scheme is implemented by the National Disability Insurance Agency (NDIA). The Agency determines whether a person is eligible for financial help from the NDIS or not. If one is found eligible, NDIA helps the participant create an NDIS plan, which outlines what all types of financial support will be provided to them for expenses such as treatments, therapies and products/services for making the beneficiary’s life easier, including wheelchairs or home alterations. The plan is also reviewed in every 12 months.
NDIS Services Offered By Reserve Wealth
At Reserve Wealth Financial Services, we focus on helping your achieving your life goals. We know that managing the plan can be a difficult and time-consuming process.The services offered by Reserve Wealth help the beneficiaries of the NDIS to make the most of funding and achieve their goals with professional assistance in managing their funds. As a registered plan management service provider, we handle the paperwork involved in purchasing the products or services under the scheme. The other major services that come under the NDIS plan management are:
- Receive invoices and make payments on behalf of the beneficiary
- Make claims for the beneficiary through the NDIS portal
- Help the beneficiary plan the budget and keep track of the expenses from the funds
- Take care of the required financial reporting
- Support the beneficiary in earning skills for self-management of the funds, if they want to do it independently in the future
- Help the beneficiaries choose and coordinate providers (such as therapists) in some cases, depending on what your plan allows.
The Advantages Of Hiring The NDIS Services Of Reserve Wealth
- With a registered NDIS plan management service provider at your service, you will have better choice and control over the providers under the Scheme.
- We help you negotiate prices with your providers and find those who offer the product/service at lower rates. It helps you make the most of the funding
- We help you keep track of the budget and manage documentation if you have difficulty in doing it by yourself.
- Our services allow you to have better choice and control over your plan, even while not having to handle the administration of the plan all by yourself.
NDIS Plan Options Comparison
| Benefits Of Different NDIS Plan Options | Agency Managed (NDIS) | Self-Managed | Plan Managed (Reserve Wealth Financial Services) |
|---|---|---|---|
| No cost to you | |||
| Access registered providers | |||
| Access non-registered providers | |||
| Choice and control | |||
| All your support invoices paid for you | |||
| Assistance to help keep track of your spending | |||
| Manage invoices and make sure your provicers are paid | |||
| Manage your service agreements and all support documents in case of NDIA audit | |||
| Provide you with regular updates on your budgets |
Our Principles
We follow the below principles in NDIS plan management
1 . Achieving Goals And Outcomes
Plan management providers should support participants with budget management, NDIS-funded supports and administration activities to achieve a participant’s goals and outcomes.
Plan management providers should work collaboratively with a participant to understand the funds available within their plan and provide advice about how to draw on this funding to achieve their goals and outcomes.
2 . Ensuring Independence
Plan management providers must assist participants to manage the financial aspects of their plan without seeking to further the financial, or other interests, of themselves and their organization, or any third parties.
3 . Demonstrating Accountability
Plan management providers must provide information and advice to participants about the management of their NDIS funding to purchase supports in accordance with a participant’s plan budget. Plan management providers must work with a participant to define how they will manage their funds.
Plan management providers must also provide a participant with regular (at least monthly) reports of plan expenditure and the balance of funds remaining in a participant’s plan.
Further, they must alert a participant of any risks associated with plan spending on services that will exceed a participant’s NDIS plan limit, or paying for supports and services not funded by the NDIS in a participant’s plan. A plan management provider must have robust security processes in place to store and maintain participant information.
4 . Consumer Awareness
Plan management providers are expected to uphold the participant’s rights as consumers, and in line with their plan, enable them to exercise greater choice and control over the supports and services they engage.
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