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With the Federal Government’s NDIS, participants can choose from three different options for accessing and managing their funding called Self-Managed, Plan Managed, and NDIA or Agency Managed.
It’s important that you understand the difference between each of them, as that’s the best way to ensure you choose the one that best suits your requirements and capabilities. For example, use of unregistered service providers with NDIA or Agency Management isn’t available, but you can use these providers with both Self-Management or Plan Management options.
Below is some information on each option so you can make the most informed decision possible when choosing the right one for you.
Self-Management offers you complete autonomy and full control over the management of your NDIS finances which gives you the added benefits of independence, responsibility, and flexibility when it comes to arranging and paying for support. Because you’re control of your budget, it’s your responsibility to pay service providers directly before using the NDIA portal to claim the money back. You also have to keep track of spending to ensure you don’t go over budget, and a record of all invoices and receipts in case you’re ever audited.
Not only do you choose which supports you purchase and who provides them, but you’re not bound by the limits in the NDIS price guide. That means you can negotiate prices of support services and products with providers to get the best possible value for money and stretch your funds as much as possible.
Similar to an accountant looking after your taxes, Plan Management hands over the administration of your NDIS funds to a professional. Providers of Plan Management pay your invoices, track your budgets, provide monthly updates, and can provide help regarding the NDIS. If you decide to use a Plan Management provider, funding will be added on top of other budgets and included in your NDIS plan.
The third available option is to have an Agency Managed directly with the NDIA where you book a support service using your NDIS portal, and the NDIA will manage all aspects of your plan for you. After dealing directly with your providers on your behalf, the NDIA will also manage your financial records and deduct payment from your funding which will be charged at the same price as the NDIS Price Guide rate. You can choose your preferred provider when using an Agency Managed plan, however you are not able to use any providers who are not registered with the NDIS.
There are no wrong choices when it comes to managing your funds as it will depend on things like your personality, circumstances, energy, and the amount of time you have. Whatever option you end up choosing, you’ll still have some control over your choices with each option, so you can be certain that your NDIS services are always working for you and within your budget. And you always have the flexibility of reviewing your decisions and changing your mind whenever your plan is either renewed or reviewed.
With the Federal Government’s NDIS, participants can choose from three different options for accessing and managing their funding called Self-Managed, Plan Managed, and NDIA or Agency Managed.
It’s important that you understand the difference between each of them, as that’s the best way to ensure you choose the one that best suits your requirements and capabilities. For example, use of unregistered service providers with NDIA or Agency Management isn’t available, but you can use these providers with both Self-Management or Plan Management options.
Below is some information on each option so you can make the most informed decision possible when choosing the right one for you.
Self-Management offers you complete autonomy and full control over the management of your NDIS finances which gives you the added benefits of independence, responsibility, and flexibility when it comes to arranging and paying for support. Because you’re control of your budget, it’s your responsibility to pay service providers directly before using the NDIA portal to claim the money back. You also have to keep track of spending to ensure you don’t go over budget, and a record of all invoices and receipts in case you’re ever audited.
Not only do you choose which supports you purchase and who provides them, but you’re not bound by the limits in the NDIS price guide. That means you can negotiate prices of support services and products with providers to get the best possible value for money and stretch your funds as much as possible.
Similar to an accountant looking after your taxes, Plan Management hands over the administration of your NDIS funds to a professional. Providers of Plan Management pay your invoices, track your budgets, provide monthly updates, and can provide help regarding the NDIS. If you decide to use a Plan Management provider, funding will be added on top of other budgets and included in your NDIS plan.
The third available option is to have an Agency Managed directly with the NDIA where you book a support service using your NDIS portal, and the NDIA will manage all aspects of your plan for you. After dealing directly with your providers on your behalf, the NDIA will also manage your financial records and deduct payment from your funding which will be charged at the same price as the NDIS Price Guide rate. You can choose your preferred provider when using an Agency Managed plan, however you are not able to use any providers who are not registered with the NDIS.
There are no wrong choices when it comes to managing your funds as it will depend on things like your personality, circumstances, energy, and the amount of time you have. Whatever option you end up choosing, you’ll still have some control over your choices with each option, so you can be certain that your NDIS services are always working for you and within your budget. And you always have the flexibility of reviewing your decisions and changing your mind whenever your plan is either renewed or reviewed.
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