As you embark on your NDIS journey, you have a choice for how you manage your NDIS funds: plan management, NDIA management or self management.
The option you choose will affect things like the kind of service providers you can access, how much support you receive with your admin, such as invoices, what sort of extra tools and resources you get access to, and more.
So, let’s look at each of the three management options, so you can decide which is right for you.
What is plan management?
Plan management puts the management of your NDIS funding in the hands of an independent expert – what we call a plan manager (like Plan Partners).
Your plan manager takes care of the admin that comes with your NDIS plan, like ensuring your service providers are paid and keeping all your invoices on file. Plan management also allows you to use smaller providers who haven’t registered with the NDIS – something that isn’t possible if the NDIA manage your plan.
If you choose us as your plan manager, you’ll also get a bunch of handy tools to help you get more out of your NDIS funds. Our Dashboards and app let you track your spending with simple breakdowns of your budgets, view the status of your invoices and even get access to exclusive customer offers. You’ll also get access to our expert team who can answer your questions and provide advice on how to get the most out of your NDIS funds.
If you choose to plan manage your NDIS funding, you’ll receive budget in your plan to pay for it – there are no out of pocket costs to you.
What is NDIA management?
This option puts the National Disability Insurance Agency in charge of your NDIS funding. The NDIA handles the financial administration of your plan, paying service providers and managing your invoices. However, unlike plan management, you can only access providers that are registered with the NDIS, which may limit your support options. NDIA management also doesn’t come with the added support and tools that many plan managers offer – it’s focussed solely on the administrative side of things.
What is self management?
Self management means you’re in charge of managing your plan and its funds.
Self management has the most flexibility out of all three fund management options, but it also comes with the most workload and responsibility. Not only can you access both registered and unregistered providers, you’re also able to pay providers more or less than the NDIS price limits , which can open up your support options.
Managing your own NDIS funding is a bit like running a small business. Unlike plan management and NDIA management, you’re responsible for submitting your providers’ invoices, making sure they’re paid, and keeping all your receipts and financial records on file for 5 years in case you’re audited.
Which option is right for you?
How you choose to manage your NDIS funds, depends on your situation, personality and what you’re looking for in your NDIS journey.
If you’d like support with managing your NDIS funding, then plan management or NDIS management is best for you. Many people prefer the added support and useful tools that a professional plan manager can bring, as well as the greater choice of service providers it offers. If you don’t mind lots of hands-on admin work and want more control over your funding, then self management may suit you.
Another thing to consider is that don’t need to have just one management option for all your support categories. For example, you might want to self manage your Core funding but plan manage your Capacity Building funding so you don’t have to pay your large expenses up front. Also, you can switch options mid plan without having to go through a full plan review.