If you’re just starting out on your NDIS journey or perhaps you are already a participant but looking for a better way to manage your plan, understanding your options is important.
There are four ways that you can manage your plan they are:
Self-Managed – you manage your own funds
Agency Managed – the NDIA manage your funds on your behalf
Plan Managed – you are managed by a registered NDIS provider like InFocus
A combination of the above
Everyone’s NDIS journey is different and while Plan Management is the right option for many participants, others prefer self and agency management. It’s good to have as much information as possible so that you can make the right choice to meet your unique needs.
Here are 5 things that you should know about Plan Management.
1. Choice and control
When you are self-managed you can select both NDIS registered and non-registered providers, it is your choice. When you are Agency Managed, you can only select NDIS registered providers for services and supports. If you choose Plan Management you can select from both registered and non-registered providers without the financial administration involved when you self-manage.
To manage your plan yourself (self-managed) it’s best to allow up to 2 hours per week for financial administration tasks like making claims reimbursements. If you are Agency Managed you will need less time but you will need to log into the NDIA portal to view your plan. If you are plan managed you’ll save time.
3. Keeping records
If you are self-managed you will need a separate bank account to receive NDIS funds and to pay your providers. You will need to track payments and keep records of the services that you receive and know which support categories to bill against.
With agency management, the NDIA will make payments on your behalf and your providers will invoice the NDIA. You don’t need to keep records yourself but you will need to log into the NDIA portal (or call the NDIA) to understand how your budget is tracking.
With Plan Management, your provider will look after your invoicing, pay providers and keep financial records for you. At InFocus, we provide you with an easy-to-use app so that you can view how your budgets are tracking in real-time.
With any of the ways that you may choose to manage your plan, you will not be out of pocket in the long term. However, if you self-manage you may be required to pay providers up front and then submit a claim which can impact your cashflow while you wait for reimbursement.
With Plan Management, your provider will give you updates on how your budget is tracking so that you don’t have to worry about this. With Agency Management, you’ll need to log into the NDIA portal and with self-management you are responsible for your budgeting.