How do I manage the funding in my NDIS plan?
When we talk about managing your NDIS plan, we mean the way you manage the financial transactions involved with accessing and paying for supports as part of your plan.
As an NDIS participant, you have three main options: Plan Managed, NDIS Managed Self Managed and you may also select a combination of these three choices.
What are the differences between being plan-managed and self-managed?
- Plan-managed – A Plan Manager will take care of your plan’s financial transactions. You will have funding for a Plan Management service provider included in your plans budget. In this situation, the NDIS will pay your Plan Manager, who will directly pay for all supports you have asked them to manage. The Plan Manager will take care of your plan’s financial transactions and monitor your budget. You can choose any provider, whether they are registered with the NDIS or not.
- NDIS-managed – This is where the providers claim directly from the NDIA. When the NDIA manages your plan, the NDIS will directly pay your support providers for you. You must choose your registered NDIS providers if the NDIA manages your plan. You cannot choose providers or support people who are not registered with NDIS.
- Self-managed – This option has the most paperwork, you directly manage the funds and are responsible for all the financial transactions. The NDIS will pay you directly for the supports you claim under your plan’s budgets. Being self-managed allows you to choose any provider, whether they are registered with the NDIS or not.
Which option to choose?
This depends a lot on your circumstances and how important it is for you to have control and choose your supports, physiotherapists etc. Participants with a Plan Manager don’t have the additional burden of paying the bills. Your service providers are able to send all invoices directly to Plan Manage Assist for easy processing.
Plus, you have the option of choosing registered and non-registered NDIS providers.
What will this cost me?
The NDIA will provide funding in your plan to pay for Plan Management. There is no direct cost to you but you need to request this in your plan review meeting to ensure it is included.