What is NDIS Plan Management and how can it benefit you?
As part of the National Disability Insurance Scheme (NDIS), you can use NDIS Plan Management to give you support, choice and control over how you use the money in your NDIS plan. This opens you to use more providers (not just NDIS registered) and gives you an opportunity to focus on goals more efficiently.
Currently the NDIS offers three plan management options:
- The Agency can manage your plan.
- You can choose to self-manage your plan.
- You can choose to work with a trusted Plan Manager like Interchange, who will help you manage your NDIS plan.
Let’s take a closer look at the different options.
Agency Managed
Choosing an agency managed plan means letting the National Disability Insurance Agency (NDIA) handle your plan for you. They’ll take care of paying providers and services, making your life just a little bit easier. However, this option offers limited flexibility. You’re restricted to using only NDIS registered providers and cannot negotiate with them to optimise your NDIS funding.
Self-Managed
Self-managed plans are those where the participant themselves, or an appointed nominee, oversees the management of the plan and funds. Under this arrangement, the NDIS reimburses the participant, or their nominee, directly for the services and supports chosen.
Opting for self-management means you’ll handle all coordination tasks, including navigating the NDIS funding system and keeping precise records for potential audits. While flexibility and control may be appealing to many NDIS participants, self-management can be daunting. Individuals need to possess a high level of organisational skills and a strong understanding of the NDIS framework. Without these skills, they may miss out on vital funding opportunities.
Plan Managed
Plan Management is a combination of the other two options. You may consider it the best of both worlds. Under the National Disability Insurance Scheme (NDIS), you receive additional funding to choose a Plan Manager who will assist you with overseeing your plan and budget. While you maintain control over selecting service providers, you must adhere to NDIS Pricing Arrangements and Price Limits.
This approach grants you control over your funds and service choices, while leaving the administrative burden associated with self-management to your Plan Manager. Your Plan Manager handles all your invoice payments, financial reporting, budget tracking, service bookings, and coordination with providers.
Ideal for those seeking flexibility without the time or expertise for NDIS requirements – our friendly Interchange Plan Managers offer expert services and are some of the best Plan Managers state-wide.
What is your ideal Plan Management approach? If you are looking to work with one of the best NDIS Plan Managers in Perth, then reach out today.
Need assistance to make the switch? Interchange can assist you to redirect your Plan Manager or opt from self/agency-managed Plan Management to us.