FUND COMPARISON
How does Your Health Wallet compare?
Australians are handing over $12,423 to extras cover every five years — and getting $0 back. This extras cover comparison exists to change that. Your Health Wallet is a movement away from the insurance trap: toward a system where every dollar you contribute belongs to you, rolls over, and comes back if you don’t use it. The numbers below are based on APRA data. Make up your own mind.
📊 5-YEAR MONEY COMPARISON — BASED ON APRA DATA, DEC 2025
WHAT YOU PAY
$10,081
in premiums (APRA avg $2,016.20/yr × 5 yrs)
+ $2,342 gap payments (out of pocket) ($1,000/yr claims × 46.84% APRA gap rate × 5 yrs)
+ $5,000 in benefits received (after gaps)
+ Annual premium hikes every year
$0
you keep
Typical Extras Cover
You paid $12,423. You kept $0.
WHAT YOU CONTRIBUTE
$9,125
total over 5 yrs ($5/day)
+ $5,000 in claims paid out
+ $851 in YHW fees ($9,125 contributions − $5,000 claims − $3,274 returned balance)
✓ $3,273 balance stays yours
💚 YOUR MONEY BACK
$3,273
you keep
Your Health Wallet
You paid $851 in fees. You kept $3,273.
$12,423
paid in extras premiums & gaps kept $0 over 5 years
$3,273
balance returned to you only $851 paid in YHW fees
$11,572
saved vs having extras cover ($12,423 total extras spend vs $851 YHW fees)
*Based on $5/day contribution, 3% p.a. interest on unspent balance, $1,000/yr gross claims. YHW fees: $199/yr platform + 1% contribution + 0.5% balance management. $10,081 = APRA avg annual extras premium $2,016.20/yr × 5 years (flat, APRA Quarterly PHI Statistics Dec 2025). Annual hike averaged 5.01% in 2026 (APRA/Dept of Health) — not compounded into $10,081; real 5-year cost is higher. Gap rate 46.84% sourced from APRA Quarterly PHI Membership & Benefits Statistics, Dec 2025. All data indicative only. General information only, not financial advice.
We used the regulator’s own data. No commissions. No bias. No switching fees to earn.
Why the extras cover comparison matters for every Australian
Every year, APRA publishes the numbers — and every year, they tell the same story. Australians with extras cover pay average premiums of $2,016.20 per year (APRA Quarterly PHI Statistics, Dec 2025), claim back less than half that in benefits, and absorb mandatory annual premium hikes on top. This is the design of the product.
The extras cover comparison above is not theory — it is a direct calculation from APRA statistics. The average Australian on an extras policy hands over $12,423 over five years in premiums and gap payments, and receives approximately $5,000 in claims. That means the real cost of extras cover is over $7,400 net (total spend $12,423 minus $5,000 in benefits received). With Your Health Wallet, that same five years costs just $851 in fees.
What makes this extras cover comparison different
Most private health insurance extras cover comparisons focus on which fund has the best optical or dental benefits. This one asks: what does it actually cost you to get $1,000 worth of healthcare paid?
With traditional extras cover, you pay premiums whether you use it or not. Your balance resets to zero every January. Gap fees mean you often pay twice. Annual premium hikes averaging 5.01% in 2026 compound year on year. Over five years, a $150/month policy costs nearly $10,000 before a single dollar of benefit.
Your Health Wallet works differently. You contribute $5 per day into your own health account. Every dollar belongs to you. If you don’t spend it, it rolls over earning interest. If you cancel, you get your balance back. No annual resets, no premium hikes — ever.
The 3 reasons extras cover costs more than it should
1. Use-it-or-lose-it by design. Extras cover resets every year. The industry counts on most Australians not reaching their annual limits. Every dollar you don’t claim is revenue they keep.
2. Premium hikes outpace inflation. Between 2020 and 2026, average extras premiums rose by over 28% while wages grew at less than half that rate. The APRA data used in this extras cover comparison shows the 2026 average hike was 5.01%. Compounded over five years, your $150/month policy becomes ~$182/month by year 5 (4 × 5.01% annual hikes compounded).
3. Gap fees erode the value of benefits. Even after you claim, you often pay a gap. The average gap rate on extras services tracked by APRA is 46.84% — nearly half of every consultation results in out-of-pocket costs on top of your premium. Your Health Wallet pays directly — no gap, no invoice, no surprise.
Do this extras cover comparison with your own numbers. Take what you pay per year in extras premiums. Add any gap fees. That is your real cost. Then compare it to $5 per day, all yours, no resets. Use our calculator to see your number →
NIB
+5.47%
2026 PREMIUM HIKE
Medibank
+5.10%
2026 PREMIUM HIKE
HCF
+4.96%
2026 PREMIUM HIKE
Bupa
+4.80%
2026 PREMIUM HIKE
AHM
+5.21%
2026 PREMIUM HIKE
CBHS
+4.50%
2026 PREMIUM HIKE
Your Health Wallet
From $5/day accumulating if not used
SCHEME FEES LOCKED AT REGISTRATION.
No April 1st. Ever.
FEATURE COMPARISON
What you actually get
| Feature | NIB | Medibank | HCF | Bupa | AHM | CBHS | YHW |
|---|---|---|---|---|---|---|---|
| No waiting periods | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Balance Rollover (Lifetime) | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Earns interest | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Fixed admin fee | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| No annual premium hike | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Covers GP gap fees | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Covers hospital gaps | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Pet health cover | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Gift to family | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
| Balance refund on cancel | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
✓ 10 out of 10. Every time.
Every single feature a standard extras fund can’t offer.
Your Health Wallet delivers all of them.
No waiting periods · Balance rolls over · Earns interest · Fees locked forever · No annual hike
Typical extras cost
you pay, keep $0
YHW — same claims
you keep $3,273
Based on 5-year comparison, $5/day contribution, $1,000/yr claims. See PDS for full details. Indicative only.