NDIS Plan Management: Making the Right Choice for Your Needs

Key Points

• As a member of the NDIS, participants have the option to choose how their plan and funding will be managed. 
• For agency-managed plans, the NDIA looks after your funding and is responsible for sourcing providers, managing invoices, and preparing the necessary reports. 
• If you opt for a self-managed plan, you have full control over how your funding is used as well as the service providers you choose to work with. 
• Plan-managed plans offer the best of both worlds by allowing a plan manager to handle your plan’s daily administration while still having full control over it. 

Summary 

As an NDIS participant, you are free to choose how your plan and allocated funding will be managed. Understanding the different NDIS plan management options, such as agency-managed, self-managed, and plan-managed, can help you decide which method is the most suitable for you.

Outline

1. Introduction
2. Agency-Managed: Convenience at a Cost
3. Self-Managed: Full Control at Your Fingertips
4. Plan-Managed: Striking the Balance
5. Take Action Now!

Ok, so you been accepted by the NDIS as eligible for funding to support you to achieve your goals. One of the things to sort out is which is the best way for you to manage the bookkeeping side of using your funding to pay for services that the scheme provides. If you or your loved ones are part of the NDIS, it’s crucial to choose a way to manage your fund that suits your capability and  aligns with your unique needs and preferences. 

In this comprehensive article, we’ll explore the three primary ways of managing your funds: Agency-Managed, Self-Managed, and NDIS plan management.

Agency-Managed: Convenience at a Cost

Opting for Agency-Managed NDIS involves entrusting the National Disability Insurance Agency (NDIA) with the responsibility of managing your fund. This means that the NDIA will take care of sourcing service providers, managing invoices, allocating funding, and preparing necessary reports. It’s a one-stop-shop solution for all your needs, ensuring convenience and streamlining the process. 

However, it’s essential to be aware that choosing this option might come with reduced participant autonomy and limited choices in service providers. Only NDIA-registered providers are authorised to work with participants under this plan management method.

Pro: Centralised management for all NDIS needs

Con: Limited autonomy and choice of service providers as they must be registered to provide services for participants.

Self-Managed: Full Control at Your Fingertips

With a Self-Managed NDIS Plan, participants gain unparalleled control over their funding. They have the flexibility to use their funds for various services, equipment, or even other needs unrelated to disability support. Budgeting is entirely in their hands, and they can negotiate fees with service providers, including those who are not registered with the NDIA. This option grants participants the freedom to choose who they work with, enabling them to explore local businesses that provide customised services tailored to their needs. 

However, it’s essential to note that the Self-Managed option requires participants to possess intermediate to advanced bookkeeping and financial management skills, as they must handle paperwork, manage invoices, and prepare reports independently.

Pro: Full autonomy in fund management – full choice over the providers selection

Con: Requires you to have bookkeeping and financial skills

Plan-Managed: Striking the Balance

The Plan-Managed scheme offers the best of both worlds, providing participants with a perfect balance between autonomy and administrative support. In this model, participants can make important decisions about their funding while delegating essential administrative tasks to a dedicated plan manager, such as AIIM Choices. 

Working with a plan manager involves creating a personalised plan, identifying goals and aspirations, assessing the participant’s current situation and needs, choosing the most suitable support services and providers, and envisioning the future they wish to achieve. 

One of the significant benefits of the Plan-Managed option is that there are no additional fees for hiring a plan manager, as the NDIS incorporates adds this cost on additional to your plan. However, participants must be aware that they may face limitations on services that go beyond the recommended NDIS price guide.

Pro: Full control over fund management with minimal administrative burden. Full choice of the providers that can best suit your needs.

Con: Some limitations on services beyond the price guide

Take Action Now!

Navigating the NDIS plan management options can be overwhelming, but it’s essential to select the option that best fits your needs and preferences. If you desire full control over your NDIS journey without being burdened by administrative tasks, consider the Plan-Managed option through AIIM Choices. Take charge of your NDIS journey today, and achieve the support and services you rightfully deserve. Don’t delay your application!

Explore our Plan Management services and take control of your funding today! Visit AIIM Choices to discover how you can manage your fund using our app, with support in over 15 languages and access to dedicated plan managers tailored to your needs.