Understanding Your NDIS Budget Management Choices

When you receive an NDIS plan, you can choose how to manage your funding. Your choice affects how you access supports, how payments are made, and how involved you want to be in managing your funds. There are three main options:

1. Plan-managed

With plan management, a registered plan manager (like MyMoney) helps you handle your funding. They pay your providers directly and keep track of your expenses. This option gives you flexibility and reduces the paperwork, while still giving you control over choosing your providers.

2. Self-managed

If you prefer to have full control, you can choose to manage your funds yourself. This means you’ll keep records of your spending, pay providers directly, and submit invoices for reimbursement. Self-management gives you maximum flexibility and control, but also requires organisation and some understanding of the scheme’s rules.

3. Agency-managed

With agency management, the NDIS or an NDIA-approved provider manages your funding for you. They handle payments and paperwork, and you simply choose your supports from their list. This option is often suitable if you prefer minimal involvement in financial administration.

Which option is right for you?

• Plan-managed: Good if you want some support with managing funds but still enjoy choice and control.

• Self-managed: Ideal if you’re comfortable managing your own funds and want maximum flexibility.

• Agency-managed: Suitable if you prefer to focus on your supports without dealing with the financial side.

Remember, your choice can be changed at your plan review or renewal, so you can find the option that best fits your needs at any time.