There are three ways to manage your NDIS funding: self-managed, plan-managed, or through the NDIA.
Additionally, you have the option of picking two or all three. For instance, you might decide to self-manage a portion of your plan at first and let the NDIA handle the remainder.
You still have the choice and control to make sure your services are effective for you and within your budget, regardless of how your finances are managed.
Self-Management
You receive funds from the NDIA so that you can take advantage of the services that will enable you to achieve your objectives.
Plan-Managed Funding
The NDIA will include financing in your plan for a Plan Manager, who will pay your providers on your behalf, assist you in keeping track of your funds, and handle financial reporting.
NDIA-Managed Funding
The National Disability Insurance Agency (NDIA) pays your providers on your behalf. Find out more about NDIA-managed funding.
What is NDIS Plan Management?
NDIS Plan Management is similar to hiring an accountant to prepare your taxes, with the exception that the NDIS covers all costs. A competent plan manager looks after your NDIS administration, responds to all of your inquiries, and helps you make the most of your resources.
How Much Does NDIS Plan Management Cost?
NDIS Plan Management is sponsored by the NDIS and accessible to all NDIS members. You only need to request it during your planning meeting.
What Advantages Come with NDIS Plan Management?
The NDIS can be challenging to use alone, so employing the services of professionals is always recommended. Get your NDIS invoices paid, out-of-pocket expenses refunded in a day, and tools and resources to manage your budgets more effectively.
How Can You Tell If Your NDIS Plan Includes Plan Management?
In your NDIS program, plan management is included under Supports for Capacity Building and Improved Life Choices. You can ask your LAC or NDIA representative for it if you don’t already have it. If you want it, you have the right to possess it.
How to setup an NDIS Plan Management?
It’s simple to set up the NDIS plan management; all you have to do is request at your initial planning meeting or review meeting that your NDIA planner or local area coordinator (LAC) set up your plan as “plan managed” and include “Improved Life Choices” in your budget. If your plan has already begun, you can get in touch with the NDIS and request a soft touch review.
How does the NDIS Plan Manager Collaborate with you?
The NDIS is a friendly funds manager. Having a plan manager is similar to having an accountant assist you with your finances. You maintain complete control over your finances, but they handle all bills and assist you in improving how you manage your money and spending.
As your current plan nears completion, you must consider what worked well in your previous plan and what you might wish to modify. If you want to accomplish your goals, you might want to think about the suppliers you want to use in your next strategy. You will have access to all Australian businesses and providers if your plan is managed. Simply ask your planner or LAC to include “Improved Life Choices” in your budget if you wish to be plan managed.
Want to make changes in the NDIS plan mid-way?
You must get in touch with your planner or Local Area Coordinator and ask them to conduct a “soft touch” review to add plan management if you are an agency or self-managed and want to move to NDIS Plan Management midway through your plan. Always make informed decisions to get the best out of your NDIS plan.