With all the changes happening in the National Disability Insurance Scheme, the NDIS plans’ funding periods and components have been truly challenging. Both participants and providers have been confused, and some of the latter are not even provided access to select information.
New terms are being used in NDIS, starting off with Total Funding Amount, which refers to the total amount of funding that will be used across a plan’s life. Next is the Funding Component, which is the total funding amount that is allocated for a specific group of supports or support in the plan of a participant. Then, there’s the Funding Period that breaks a participant’s funding into smaller instalments, which will then be released over a period of time.
Participants, of course, have full access to their Funding Period information. They’ll be able to see amounts released as well as start and end dates. However, Support Coordinators can only view a Participant’s Funding Period if they have consent. Meanwhile, a Plan Manager will automatically access Funding Period information once a participant endorses it through the PACE provider portal. All other providers will not have direct access and will need to directly talk with the Participants to learn about their Funding Period.
For those who need in-depth information on NDIS Plans, Funding Periods and Components, Team DSC has an online workshop that covers everything about “Total Funding Amounts”, “Funding Components,” and “Funding Periods.”