How you choose to have your NDIS funding managed is an important decision. With three options available, your choice can have a significant impact on the supports you link with and the personal involvement you have in managing the finances associated with those supports.
The 3 options are:
- Agency-Managed funding is managed by the NDIA. The Agency pay your service providers directly through the NDIS provider portal. Participants are restricted to using NDIS-registered services only.
- Self-Managed funding is managed by the NDIS participant (or their Plan Nominee). The individual is given more flexibility with the services they use; however, they are responsible for managing the funding, paying invoices, liaising with service providers, keeping financial records and ensuring purchases are both within the scope of the NDIS and also correctly assigned to the appropriate category of funding.
- Plan-Managed funding provides the freedom to access both NDIS-registered and non-registered providers but removes the responsibility of managing the funding. It offers the best of both worlds – having a third party manage the administrative tasks whilst offering greater choice with the supports you engage.
At myCSN, we offer the service of Plan Management. Some of the top benefits of having plan management included in your NDIS Plan are:
- Greater Choice of Providers – Having your funding plan-managed gives you greater flexibility and increased choice of providers. If you have a Plan Manager paying the invoices for your NDIS supports, you are free to use both NDIS-registered and non-registered services.
- Reduced Administration – One of the primary functions of a Plan Manager is to fulfill the administrative tasks associated with managing your funding. This removes the need for you to personally generate payment requests and manage the payment of NDIS-funded invoices.
- Visibility of Budgets – Through our NDIS software you receive access to customised financial reporting and can monitor expenditure and balances as often as you like.
- Access to Expert Advice – Our Plan Management team have more than 10 years of combined experience in NDIS Plan Management. In a landscape that is often changing, this can be a distinct advantage. Having expert advice on hand to discuss how you might reach your goals whilst adhering to the NDIS guidelines can help you get the most out of your funding. Our Plan Managers can help ensure the expense you’re incurring are claimable and advise of alternatives if they aren’t covered.
- Separate funding – At your planning meeting you can tell NDIS staff that you would like a plan manager to support you. The NDIS will include funding in your plan to pay for your plan manager. This is separate from your other services and supports in your budget.
We are a registered NDIS service provider that can help you manage your NDIS plan. Be in touch with us today.