Difference between Self-managed NDIS and plan-managed NDIS
There are two main ways to manage NDIS funding; through a self-managed or a plan-managed NDIS. These plans are both great options but have several key differences. Anyone who receives NDIS funding needs to fully assess their situation to work out which plan will be best for their needs.
What is self-managed NDIS?
A self-managed NDIS allows the recipient to manage their funding. This gives you the choice and flexibility to decide how to spend your funding to achieve your own plan goals. You can think creatively and logically about how the funding can best be used to meet your requirements. Self-management allows you to choose your service providers, meaning they do not have to be registered NDIS providers.
If you want to self-manage your NDIS plan, it means that you will take on specific responsibilities. This includes purchasing supports, managing your funding, making clear agreements with your providers, keeping track of receipts and invoices and showing the NDIA how you’re using the budget.
Who should use the self-managed NDIS?
A self-managed NDIS plan is excellent for anyone with a disability who wants more control and independence. The benefits of self-managing are that it allows you to choose what support you wish to purchase and gives you the ability to negotiate costs and use savings.
What is plan-managed NDIS?
With a plan-managed NDIS, you will be given a plan manager who is a registered NDIS provider. The plan manager will directly use the budgets in your plan to pay your providers for you. They will also keep on top your funds, look after all financial reporting, and they can also help you pick your providers.
Who should use the plan-managed NDIS?
Plan-managed funding is an excellent option for anyone who wants less responsibility and decision-making when it comes to their NDIS. It gives you freedom from any complicated bills and paperwork as all payments are made on your behalf. It reduces administrative burden and means you don’t have to use the NDIS portal. Ultimately, deciding between a self-managed and plan-managed NDIS comes down to your individual needs and requirements.
If you have decided that a plan-managed NDIS is best for you, Instacare can help put this into place. We are NDIS specialists and offer premium NDIS plan management solutions to help maximise your control over your NDIS plan. For more information, contact us today.