Navigating NDIS funding options

NDIS storiesOne year ago by Renee
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When it comes to managing how your NDIS plans funds will be distributed, there are several options. We’ll be taking a look at the funding available and break it all down to show you the pros and cons of each option available.

So what’s new?

Everyone should have the opportunity …

When it comes to managing how your NDIS plans funds will be distributed, there are several options. We’ll be taking a look at the funding available and break it all down to show you the pros and cons of each option available.

So what’s new?

Everyone should have the opportunity to access services that will meet his or her needs. New NDIS arrangements in NSW have meant changes for people with a disability, and also for disability service providers. These changes give you significantly greater choice and control over your funding. You can have as little or as much help as you need in managing your individualised support services, and the decision around who and how you manage your funds is completely up to you.

What are the options?

An agency managed plan is where the National Disability Insurance Agency (NDIA) make payments to care and support providers that you choose. This option is easy, requires little financial management from you, and is free. However, with this option you only have NDIA registered providers to choose from.

On the other hand, when you choose to self-manage your plan, you pay support providers and the NDIS reimburses you. This is great for people who like control, and allows you to purchase support from people not registered with the NDIA. However, it requires you to pre-pay and then claim back, and the research and ongoing management of your funding can take some time.

If you are considering self-management, you should think about whether you want to manage things such as payment, managing records and receipts and providing updates to the NDIA.

You could also engage a plan management provider (another organisation) to do the financial management for you. It’s easier than self-managed, as they will complete paperwork and records for you. However, it does cost.

It’s also possible to combine a few of the above options into something that suits you and your family best.

We’re not here to recommend one option over another. However, we do know that many families initially go for agency managed, so that they can learn about the system before deciding to take it over and self-manage.

The option you choose might also depend on the needs of your family and child or children – for instance, if you have multiple children with disabilities you might find it easier to go with an agency managed approach in order to simplify the process and free up your time for caring duties.

If you do choose to do it yourself you’ll have more control, but be prepared to commit extra time to paperwork and financial management.

Remember, it’s all about choosing what’s best for your family and you.

Find out more at one of our FREE NDIS Information Session or the one-to-one Preparation and Support Meeting.