For many people preparing for the National Disability Insurance Scheme (NDIS) and that first planning meeting, making sure you receive the support and funding to meet your needs is priority #1, and for good reason. In the midst of all the preparations and paperwork gathering it can be easy to overlook exactly how you would like that money to be managed. Today we want to shine a light on the options available and take a closer look at why NDIS plan management is a popular option for many participants and families.
There are three options NDIS participants can choose from, depending on your individual situation:
Some of differences between these three options can have a significant impact on the supports available to you and ability to get the most from your NDIS Plan. Both Self-Managed and Plan Managed options for example, allow the participant to pay service providers that do not undertake the lengthy NDIS registration process. This can dramatically open up your options for supports. Electing to be NDIA managed restricts you working with providers currently registered with the NDIS only.
For NDIS participants that want the freedom to work with registered and non-registered service providers, but might be worried about the workload involved in self-managing the plan, Option 3, NDIS Plan Management can be a great solution. A plan manager can take care of all the boring stuff, the paperwork and administrative tasks related to your plan. That can leave you with the freedom to focus on what’s important to you and the goals and aspirations of your NDIS plan.
It is also important to know that each of these three options come at no cost to the participant. This means there is no cost saving advantage to selecting the hands on approach of being self-managed.
The video from MOIRA below highlights the various parties involved within NDIS plan management and MOIRA’s role in supporting your NDIS goals.
For more information on MOIRA Financial Plan Management click here or contact the team today.
13000 666 472