When it comes to handling your NDIS plan, there are a few ways you can choose to manage your plan. Two effective methods are NDIS plan management and self-management. Each has its pros and cons.
It will come down to personal preference as to which works best for you. But overall, effective NDIS management will ensure your funding is allocated appropriately. And make sure you receive the supports you need to achieve your goals.
So, when deciding on how you want your plan managed, think about what is important to you and how you can get the most out of your plan.
What is NDIS plan management?
You will receive funding in your plan to engage a Plan Manager who will take care of NDIA requirements. A Plan Manager will pay providers on your behalf, help you keep track of your budget, and manage all your financial reporting.
NDIS plan management supports your choices and allows you control over which providers you engage. With a Plan Manager, you will help make the most out of your plan and ensure that your budget is managed effectively.
As a result, you spend your funds in line with your support needs, and the manager will take care of all record-keeping.
What is self-management?
As the name implies, self-management of your plan funding means you manage your NDIS plan yourself. You will be responsible for arranging who provides your supports and paying for their services.
Self-management gives you full control over your plan and your budget. You can engage any provider who best suits your needs and negotiate the cost of your supports. You are also able to employ staff directly to help you achieve your goals.
Along with the flexibility and choice that self-management offers, you will be in control of all financial and administrative aspects of your plan.
For example, you will claim and pay your providers, keep an eye on your budget, maintain records and receipts for your supports, and participate in audits when necessary.
It would be best if you also showed that the funding in your NDIS plan is being used appropriately to help you pursue your goals.
Which option is better?
Again, it’s a matter of personal choice which option will be the most effective in managing your plan. But in making your decision, you should consider how much time you have to invest in handling your plan.
NDIS plan management will take a considerable load off your shoulders regarding financial and administrative requirements. In addition, this will free up time and mental energy so you can focus on your supports and achieving your goals.
Self-management is effective in providing you with complete control over every aspect of your plan. However, with this comes additional responsibilities that can become onerous and reduce your availability.
Are you interested in NDIS plan management?
NDSP specialise in NDIS plan management to help Australians with a disability manage their funding and reach their goals. We are dedicated to providing quality, experienced plan management, so you have the freedom to focus on getting the support you need.
So, if NDIS plan management sounds right for you, contact NDSP and make the most out of your NDIS plan.