How do the NDIS Registered Service Providers help Fund Management?

by Sarita Mudaliar Best Google Author

Reputable NDIS registered service providers help the recipients deal with their funds. The objective behind this is to ensure that they are able to manage their funds in a proper way so that they do not run out of their funds midway. On this page, we shall discuss the three ways the recipients can manage their NDIS funds while they enjoy services from the NDIS Service Providers in Sydney.

The options of fund management includes:

Self management
Plan management
Agency (NDIS) management

Self Management

This means that the participant in question is entirely in charge of the individual’s budgeting and spending. This option offers optimum flexibility and control of all the three options. The recipient has the liberty to choose from registered as well as unregistered providers and the NDIS price limits do not apply here. This option provides more options to the participants when it comes to choosing service providers.

Plan Management

Plan management indicates an independent expert, who is known as plan manager will take care of all the financial and administrative aspects of the plan, though the recipient has fullest control over the supports and the providers.

This option of managing the fund allows almost identical extent of flexibility as self management as there is no need for the support providers to be NDIS registered.

This service can be availed by all the participants who have opted to plan-manage their funding and is covered by their own funding category. This means the participants do not have to make any out of pocket expenses.

Agency (NDIA) Management

This means, the National Disability Insurance Agency (NDIA) takes care of all the financial and administrative aspects of the plan as the participants have full control of their support and the NDIS Registered Service Providers in Sydney.

This particular option allows very little flexibility as the right of the participant is restricted to choosing NDIS registered providers, something that at times, puts limit to the options available to the participant, more so if and when they stay in a rural or remote area that has very NDIS service providers and specialists and providers.

Authors Bio: The author is one of the best NDIS Registered Service Providers in Sydney and is also one of the most prominent bloggers.