3. What is the distinction between NDIA agency managed, plan managed and self-managed?
NDIA Managed – The NDIA (National Disability Insurance Agency) will handle your NDIS funding. You are merely allowed to use NDIS registered providers, to give your supports.
Plan Managed – This offers you more command over how you will spend your funding as you can obtain supports from service providers that happen to be equally registered and not registered with the NDIS. Your funding is handled by an NDIS registered plan manager, who will make payments for these offerings on your part.
Self Managed – This offers you the highest control over how you shell out your funding. You can receive supports from service providers that are equally registered, and not registered, with the NDIS and can straightaway hire support workers. You will probably be responsible for the financial and administrative aspect of your package. You will have to create a particular bank account for this reason.
Nyra functions for all 3 kinds of NDIS participants.