Your NDIS plan comes with certain tasks and responsibilities that may not be obvious from the outset. Therefore, it can be helpful to fully understand what is expected of you and the NDIS plan management options available to you to make the best decision based on your needs.
You have a number of options for managing your NDIS plan. You can:
- choose to manage your plan, called self-managed;
- engage a Plan Manager to handle things, otherwise known as plan-managed; or
- opt to have the NDIA manage your plan, referred to as Agency-managed.
Additionally, you can also choose to employ a combination of all three management methods.
When deciding on the best way to manage your plan, your Local Area Coordinator (LAC) can provide you with advice to help you make the right choice for you. First, however, we have collated some general information on each NDIS plan management option to get you started:
As part of your NDIS plan, you will receive funding to engage a Plan Manager who will care for all budgetary and administrative NDIA requirements. A Plan Manager will:
- pay providers on your behalf;
- help you keep track of your budget; and
- manage all 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. Your funds will be spent in line with your support needs, and we will take care of all record-keeping and administrative requirements. A Plan Manager can also negotiate the cost of your support, based on the NDIS price guide, to help maximise your available funding.
A self-managed plan requires you to handle all aspects of your NDIS plan by yourself. You will be responsible for arranging who provides your support and paying for their services. There are no limitations on which providers you engage; however, the cost of your support is not governed by the NDIS price guide. Therefore, you will need to negotiate with your providers to make the most of your funding.
In addition to selecting your support providers, you will be in control of all financial and administrative aspects of your plan. You will be responsible for:
- claiming from your plan and paying your providers;
- keeping an eye on your budget;
- maintaining records and receipts for your support; and
- participating in NDIA audits when necessary.
Agency-managed or NDIA-managed plans leave the administration in the hands of the NDIA. Your support providers will claim payment directly from your funding while the NDIA takes care of all book-keeping, records management, and reporting requirements. Additionally, Agency-managed plans offer the following:
- access to your budget through the NDIS participant portal
- the choice of NDIS-registered service providers
- set price supports according to the NDIS price guide
Worry-free NDIS plan management with NDSP
With a number of NDIS plan management options available, it can be helpful to understand more about what each method can provide. NDSP is here to help you work through the best path forward and offer access to professional NDIS plan management services to suit your needs.
When you choose to have our expert NDIS plan managers handle your financial and administrative responsibilities, you can rest assured we will handle your budget effectively and efficiently.
So, for specialised NDIS funding support and advice, contact NDSP to learn more about how NDIS plan management can work for you.