How to manage your NDIS funds

How to manage your NDIS funds

One of the biggest decisions you and your family will need to make is how to manage your NDIS budget.  During your NDIS planning meeting, your Local Area Coordinator (LAC) will ask how you want to manage your funds.

Key points:

  • The process of budgeting, keeping records and paying for supports in your NDIS plan is called ‘plan management’. 

  • There are four plan management options you can choose from.

  • How you choose to manage your plan can influence what providers and services you can access.

Managing your NDIS funding

The process of budgeting, keeping records and paying for supports outlined in your plan is called ‘plan management’. 

How a budget is managed determines how your supports and services are paid and, in some cases, what providers you can choose from to deliver the support services you need.

How does NDIS plan management work?

There are a few ways you can manage your NDIS funds. There is no right or wrong way – you can choose which option best suits your situation.

The options include:

Agency (National Disability Insurance Agency) managed

If you choose to have your plan agency managed, this means that the NDIA handles all payments and administration for you.

Plan-managed

A registered plan management provider can help you manage your NDIS funds.

Self-managed

Self-managing means that you, a family member or trusted person takes care of the day-to-day organisation of your NDIS funds.

A combination of any of these

Combination managed means that you can control some of the funding while the NDIA, or a plan manager, looks after the rest

You can change how you manage your NDIS funds at any time, but you will need to let the NDIA know.

With any plan management option, it’s a good idea to develop and maintain a list of providers who will deliver the supports you need, their contact details and any other relevant information such as budget reference numbers.

How to change your plan management type

You can choose to change how your plan is managed throughout your NDIS journey. This can be done:

  • At your NDIS plan meeting

  • At your NDIS plan review meeting

  • Between plans by contacting the NDIS and asking for a plan review.

How do you manage your NDIS plan? Tell us in the comments below!

 

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