12 Apr What options are there to manage my NDIS plan?
Getting started with your NDIS plan isn’t always easy, and one of the many questions you may find yourself asking is ‘what options are there to manage my NDIS plan?’
As at the 2020 September quarter, the average NDIS Plan utilisation rate for the entire nation was only 70%. Which means that NDIS participants are losing out on as much as one third of NDIS funding that they are entitled to. This figure represents an enormous number of missed opportunities, so it is incredibly important to choose the right plan management option for you. So, who can manage your NDIS plan?
Once your NDIS plan has been developed and approved, you (the participant) have the option of 4 management styles; self managed, agency managed, plan managed or a combination.
Choosing to self manage your NDIS plan gives you a lot of flexibility; allowing you to be independent and creative in choosing what supports to spend your funding on in order to meet your plan goals. Like any plan management option there is pros and cons.
- Independence – Self managing your plan automatically means you are less reliant on others. You make all the decisions for yourself; in other words, you have complete choice and control.
- Choice – you have the freedom to choose what supports you engage, and who provides them.
- Flexibility – you have the flexibility to work with any provider that has the capacity to help you meet your goals.
- Capacity – you may employ or contract staff yourself, or have someone do this on your behalf.
- Ability – you have the ability to negotiate the costs of your support services, giving you the best value for money.
- Control – you have total control and responsibility for your NDIS funding, managing your funding for the duration of your NDIS Plan.
- Providers are not governed by the NDIS price guide, meaning your selected provider can request a higher rate than that stated by the NDIS.
- It can be time consuming and laborious to engage with providers, pay invoices etc.
- You need to be an exceptional bookkeeper and keep records and receipts from everything in case you are audited.
Choosing to be Agency Managed means your fees for providers and services are paid directly by the NDIA. Of all the options, being Agency managed provides participants with the least freedom, choice and control.
- Simple – The NDIA manages any necessary bookkeeping and record keeping associated with your funding.
- There is no upfronts to you – your providers claim electronically from your funding.
- Transparency – you can log onto your MyPlace portal to see what claims have been made against your NDIS funding and keep track of your budget.
- Limitations – you are restricted to only NDIS registered providers
- Lack of choice & control – very limited in how you can spend your funds
Plan management essentially combines the best characteristics of all of the options.
One of the greatest benefits of choosing plan management being that it allows the participant to exercise complete choice and control over the providers they wish to use, including both NDIS registered providers and non-registered providers. Having your plan Plan Managed removes the tedious task of trying to navigate the complicated NDIS and the admin associated with managing your plan and funding.
- Completely NDIS funded – the NDIA will allocate extra funding to your plan to cover the costs of a Plan Manager – It will not eat into your therapy or other plan funds
- Choice – you are able to choose from both registered and non registered providers
- Control – you can negotiate lower costs for services and make your funding go further.
- Stress free – you will not be audited, paying of invoices, any record keeping and admin associated with your plan is the responsibility of your Plan Manager.
- Transparancy – get NDIS plan budget reports and budget oversights.
- Experts on your side – Get expert help to ensure you are getting the most out of your NDIS plan, someone to offer guidance when needed and monitor your budget for you.
- There is always the possibility your plan manager may not pay your invoices on time. – but you will never have that problem with Assist Plan Managers, we pay your invoices the day we receive them. Give us a call to find out how else we can make life easier for you!
Check out our Youtube video What options are there to manage my NDIS plan?
For more information on choosing the right plan manager, check out our blog post on How to choose an NDIS plan manager