⚖ INDEPENDENT FUND REPORT CARD — APRIL 2026
We graded every fund using their own regulator's data. The results are damning.
Verified sources: APRA Quarterly PHI Statistics Dec 2025 · Dept of Health 2026 Premium Approval · ProductReview.com.au · All data independently verified.
Australian Owned · For Australian’s and Residents Only
Your Health Wallet is Australia’s first health savings account.
Keep every dollar you don’t spend. No waiting periods. No rate hikes. Ever.
🇦🇺 Open to Australian residents only · Not available to temporary visa holders · Read the PDS before deciding
The Old Way
Pay. Claim. Gap. Repeat.
✗ Premiums rise 5% every year
✗ You pay 46% gap out of pocket
✗ Unused premiums: gone forever
✗ Annual limits cut claims
$0
left in your pocket after 5 years
→
or
Your Health Wallet
Contribute. Grow. Keep.
✓ Fees locked at registration forever
✓ Unused balance rolls over + earns interest
✓ No annual limits on claims
✓ No waiting periods. Ever.
$3,273
still in your wallet after 5 years
Based on same treatment, same dentist, same physio over 5 years. All figures indicative. General information only, not financial advice.
+5.47%
NIB
2026 PREMIUM HIKE
+5.10%
Medibank
2026 PREMIUM HIKE
+4.96%
HCF
2026 PREMIUM HIKE
+4.80%
Bupa
2026 PREMIUM HIKE
Your Health Wallet
SCHEME FEES LOCKED AT REGISTRATION.
No April 1st. Ever.
⚠ THE TRAP NOBODY TALKS ABOUT
Switching funds doesn't fix it. It can reset the clock in some cases - Switcher Beware.
Comparison sites want you to switch. They earn a commission when you do. But switching extras cover means serving waiting periods all over again at the new fund — up to 12 months for major dental, 2 months for general dental.
During that time you pay full premiums. You cannot claim. The comparison site already got paid. You got nothing — except a higher premium at a different fund.
💡 Your Health Wallet has zero waiting periods on every treatment — from day one.
Source: Private Health Insurance Act 2007 (Cth), Schedule 2 — Standard Waiting Periods. Applies to all registered health funds when switching. Your Health Wallet is not a health insurance product — no waiting periods apply.
HOW IT WORKS
Simple enough to start today. Smart enough to last a lifetime.
You contribute
From $5/day
NAB custodian holds
Your money, separate
Balance grows
Interest + rollover
You spend
On what you need
Unspent = yours
Rolls over. Always.
Think of Your Health Wallet as your own personal health savings account — designed entirely for you, not for a fund’s shareholders. Every unspent dollar stays yours. You can even pass it on to someone you love.
01
01 — Keep your hospital cover
Your Health Wallet replaces your extras cover only — not hospital. Keep your existing hospital cover with any fund you choose. No disruption. No gap in your protection.
02
02 — Open your wallet in minutes
Sign up online in under 5 minutes. Choose your daily contribution from $5/day. Your balance is available immediately — no waiting periods. Importantly: your scheme fees are locked at registration and can never be raised. The sooner you lock in, the better your rate.
03
03 — Your money grows while you sleep
Unspent funds roll over every year and earn interest — held by a NAB-approved custodian. Every dollar you don’t spend keeps working for you. In 5 years, even a modest $5/day builds a meaningful health reserve. No other extras product does this.
04
04 — Use it your way. On your terms.
Dental, optical, physio, hospital gaps, GP gaps, and more. After 12 months, even pet health. Gift extras to family members. See the full covered services list in the PDS.
✓ WHAT YOU ACTUALLY GET
Built for people, not shareholders.
Rollover annually
Unspent extras roll over every year. Your balance accumulates for your future health needs.
Earn interest
Your balance earns interest, just like a savings account. Held by a NAB-approved custodian.
Gift to family
Share your extras with family members or anyone you care about.
Pet health cover
After 12 months, use up to 25% of your balance on pet insurance or vet bills. Or use it to fund your Private Hospital Cover - Now that is your money working for you.
Eliminate gap fees
Cover hospital and GP gap payments — something traditional extras cover often can't do.
Balance refund
If you cancel, your remaining balance is refunded subject to a cancellation fee that reduces over time: 20% for memberships up to 10 years, 10% for 10–15 years, and 5% for over 15 years. The longer you stay, the more you keep. See PDS for full terms.
Fees locked at registration
All platform, contribution, and management fees are set at scheme registration and cannot be changed without registering a new scheme. No April 1st surprises. Ever.
No waiting periods
Your balance is available from day one. No waiting periods on any claim.
📊 THE NUMBER YOUR HEALTH FUND HOPES YOU NEVER SEE
Your money is quietly disappearing.
📈 HOW YOUR EXTRAS COVER PREMIUM GROWS — WITH 5.01% ANNUAL HIKES
$1,508
Year 1
$1,584
Year 2
$1,663
Year 3
$1,746
Year 4
$1,834
Year 5
$5/day
YHW
Extras cover: +$326 more per year by year 5
YHW: same rate. forever.
Source: Dept of Health 2026 Premium Approval. Avg hike 5.01% p.a. across NIB, Medibank, HCF, Bupa, AHM, CBHS. All figures indicative only.
WITH EXTRAS COVER
You contribute $9,125
Premiums: $10,081
Gap payments: $2,342
$0
balance remaining
WITH YOUR HEALTH WALLET
You contribute $9,125
Claims covered: $5,000
Fees: $851
$3,273
yours to keep
Same dentist. Same physio. Same treatment. With Your Health Wallet you walk away with $3,273 still in your pocket. With a standard fund you’ve handed over $12,423 and have nothing to show for it.
Your Health Wallet
Contributions (5 years): $9,125.00
Claims covered (5 years): $5,000.00
Rollover balance: $3,273
Typical Extras Cover
Premiums paid (5 years): $10,081
Gap payments (46.84%): $2,342
Rollover balance: $0.00
3.3 million Australians with extras cover this year will pay premiums, pay the gap, and walk away with $0. That’s not insurance. That’s a donation — and it happens automatically, every single year, unless you stop it.
They keep $12,423 over 5 years. You keep nothing.
Same dentist. Same physio. Same treatment.
What $48/week donated to your health fund actually costs you over 5 years
$12,480
handed to your health fund — gone forever
That same $48/week saved at 3% p.a. over 5 years grows to $13,447
Or think of it as: 62 weeks of groceries · 6 months of mortgage repayments · 45 dental visits
All gone. Every year. On autopilot.
Are you happy to donate $12,423 to your health fund’s profit — or do you want a better way?
If you’re happy donating, don’t sign up. But if that number makes you angry — this is for you.
Stop Donating — Open Your Health Wallet
⏱ Every week you wait costs you another $48. That money could be yours. Right now, it isn’t.
*Based on $5/day contribution, 3% interest p.a. (5-year avg) on unspent balance, $1,000/year gross claims. YHW fees: $199/yr platform + 1% contribution fee + 0.5% balance management. Extras premiums include avg 5.01% annual hike (APRA/Dept of Health 2026). Gap rate 46.84% sourced from APRA Quarterly PHI Statistics, Dec 2025. $48/week figure represents net weekly cost of extras cover after claims (5-year avg). $13,447 figure based on equivalent weekly savings at 3% p.a. compounded monthly over 60 months. All data indicative only.
Every week you wait, $48 is gone.
Your health fund keeps your money every time you don’t claim. We give it back. Every single dollar. You’ve already paid enough — it’s time your health cover started working for you.
No lock-in contract · Cancel anytime · Unused balance refunded · Fees locked at registration — forever
Read the full PDS, Reference Guide & FSG for complete terms