WHAT ARE THE OPTIONS FOR MANAGING MY NDIS FUNDS?
It’s up to you to decide how you want your NDIS funds to be managed. Here are your three options:
1. Use a professional Plan Management service
Plan Managers, like Plan Partners, are specialists who can support you manage your NDIS funds.
Your Plan Manager will handle all the time-consuming and tricky daily administration tasks that come with managing your NDIS plan. They will pay your service providers and claim from the NDIS, keep track of your spending and maintain accurate financial records. You’ll have the choice of using your NDIS funds with any provider – not just NDIS-registered ones.
Plan Management is funded by the NDIS, so there is no cost to you. Just make sure you specifically ask for Plan Management to be included in your NDIS plan at your next NDIS planning meeting. The NDIS will then have to include it in your NDIS plan - it will be in the category called ‘Improved Life Choices’.
Plan Management doesn’t include more specific assistance with finding and connecting you with service providers. If you need this, Support Coordination may be helpful.
2. Leave your funding with the NDIS
You can get the NDIS to handle your funds and pay your service providers.
If you do this, you will still need to be hands-on, setting up service agreements with your providers and managing how the service is delivered. When choosing service providers, you will be limited to those who are on the NDIS list of registered providers.
3. Manage your funds by yourself
Self-management leaves things entirely in your hands.
You’ll have to organise payment of your service providers, keep receipts and invoices in file and manually claim the money back from the NDIS.
Which option is right for you?
Everyone’s situation is different, so there’s no ‘one size fits all’ answer. To decide what’s best for you, you should consider your aspirations, life goals, support needs and how much time and effort you want to invest in managing your funds.
Many people choose Plan Management because it offers the most choice and flexibility, saves time and makes managing NDIS funds easy.