Know the Difference: NDIS Self-managed Vs Plan-managed Funding

Plan Guard26 Sep, 2022Health

The National Disability Insurance Scheme (NDIS) provides direct funds to people with disabilities to access the support and services that they need to lead an independent life. Plan management is one of the many services funded under the NDIS that ensures an easier NDIS journey for the participants. When a provider helps the participants to manage the funds allocated in their NDIS plan, that is known as plan management. Participants can also let the NDIA manage their funds or choose to self-manage their plans. There are many differences between self-managing your NDIS funds and getting your funds managed by a plan manager. Plan managers will ensure timely payment of all your provider invoices after your approval. They will also keep an accurate record of all your NDIS spending and report back to you every month with details about all the paid invoices and remaining money in your budget.