October 25, 2021
The National Disability Insurance Scheme (NDIS) uses a lot of terminology that isn’t always straightforward or easy to understand. To combat this, we’ve developed a quick and easy guide for you to learn the common NDIS plan management terms.
Put simply, this is the funding available to you as an NDIS participant. Your budget is made up of three categories – a core budget, capacity building budget, and capital budget.
Your core support budget comprises of four areas – assistance with daily living, transport, consumables, and assistance with social & community participation. This budget is flexible, meaning the funding you receive can be shifted around those four areas, depending on your needs.
Your capacity building budget is all about supporting your independence and working towards the goals you have outlined in your NDIS plan. If you have made it a goal to get a job or undertake further education, it will be funded under this category. This support does not have flexibility for funding to move from category to category.
Your capital support budget is used for two categories – higher-cost assistive technology or home modifications. Like your capacity building budget, funding in this budget is not flexible and can only be used for the specific purpose outlined in your plan.
To learn more about funded support packages and what your budgets can be used for, click here.
Supports are products or assistance that help you undertake daily life activities and enable you to live more independently with your disability. Formal supports refers to paid supports, which can range from physiotherapists all the way through to home modifications. These supports are funded within your NDIS plan if they are reasonable and necessary for your specific needs. Informal support refers to the assistance provided by your family, friends, and social networks, that are not funded by the NDIS.
An NDIS Provider is an individual or organisation that is registered with the NDIS to provide products or services to help participants pursue the goals in their plan. This can range from accommodation support, right through to community nursing programs. NDIS providers can be large companies, charities, not-for-profits, or sole traders, as long as they are NDIS registered and meet strict quality and safety requirements.
As an NDIS participant, you have complete choice and control over how your funding is managed. The NDIS allocates funds to you based on your individual needs, and the supports you require on a daily basis. You have three main options for the management of your NDIS funding – your budget can be agency managed by the National Disability Insurance Agency (NDIA), you can manage it yourself (self-managed), or you can choose to work with a registered, independent NDIS Plan Manager, such as Disability Plan Services.
Working with a plan manager is an easy way to maintain control of your support services without the difficult administration and record keeping required with self-managed plans. Aside from the convenience they provide, a plan manager can also maximise your funding and provide you with recommendations based on your funds and goals.
A plan manager can be the link between you and the NDIA and provide you with advice that suits your individual needs and goals. Using a plan manager is a great option if you are new to the NDIS, finding it difficult to grasp the complexities of NDIS plan management terms, or simply don’t have the time, resources or capacity to manage your own plan.
At Disability Plan Services, our team of experienced NDIS Plan Managers know how to make the most of your funding. To learn more about our team and the services we offer, click here.
Self-managed NDIS planning (funding)
As the name suggests, self-managed NDIS plans involve you overseeing your funding. If you opt to self-manage, you’ll be responsible for all the financial administration required with your NDIS plan. While self-managing an NDIS plan might suit some, it requires a lot of time, research and record-keeping. We’ve outlined the pros and cons of self-managed NDIS plans, which you can access here.
If you want the support of professionals with extensive NDIS plan management experience, our team can give you a clearer understanding of NDIS plan management terms and what funding might be available to you.
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