The key difference is that the supports managed by the plan cannot be paid at a rate higher than the NDIS price guide. However, the plan administrator can negotiate on your behalf to pay a lower price for services to maximize your funds. The NDIA will provide your plan funds to pay a plan administrator to pay your providers for you, to help you keep track of the funds and to prepare the financial reports for you. Learn more about the funds managed by the plan.
Looking to have more control over your National Disability Insurance System (NDIS) plan? Both plan-managed and self-managed options give you much more control than agency-managed options, and that's probably why they've now overtaken agency management as the most popular option. NDIS participants who choose self-management or plan management have access to approximately four times as many providers, but what are the real differences between plan management and self-management? NDIS self-management means that you manage your plan yourself. You have more options when deciding what supports you want to purchase, and you have the flexibility to use any provider to help you achieve these goals. When you sign up for a National Disability Insurance System (NDIS) plan, you can get information about self-management, plan administration, or administration from the National Disability Insurance Agency (NDIA).
Even if your funds are managed by the NDIA or a plan administrator, you should regularly check the myplace portal and your funds to ensure that your budgets are on track. Or you can opt for self-management but realize that you don't like every aspect, so ask the NDIA or a plan management service for help. If you like to have full control of your NDIS funding and manage all the administrative tasks, such as paying your suppliers, keeping your records and processing applications from the NDIS portal, self-management is an excellent option for you. In addition, about 12% of people have a plan managed by the NDIA or an agency, which has fallen from 24% in recent years.
For example, you can choose to self-manage part of your plan from the start and let the NDIA manage the rest. However, this comes with some additional responsibilities that don't involve being managed by an agency or plan. If you choose plan administration, you'll get benefits similar to those of self-administration, but you don't have to manage your plan. You can manage your plan yourself or get help from the NDIS or a plan management provider.
They can also increase your financial management and plan skills so that one day you can self-manage your budget yourself, if you so choose. Independent plan managers, such as My Plan Manager, specialize in providing plan management services and do not provide any other services to NDIS participants. Plan administration is free for all NDIS participants, and all charges are paid by the NDIS from the “Improved Life Choices” budget. Your partner dedicated to early childhood or LAC or NDIA planner will ask you how you would like to manage NDIS funds during the planning meeting.