Product Disclosure Statement
Xtras Health Plan Savings Scheme trading as Your Health Wallet
Issue Date: 03/08/2020 | AFSL: 500574 | ARSN: 627076411 | ABN: 92 618 020 885
Responsible Entity
XTRAS HEALTH PLAN PTY LTD
Suite 2, 36 Macaree Street, Berserker, Rockhampton, Queensland, 4701
T: 1300 949 287
Important Information
This Product Disclosure Statement (PDS) is issued by Xtras Health Plan Pty Ltd (Responsible Entity) and is a summary of significant information about the Xtras Health Plan Savings Scheme trading as Your Health Wallet. The information in this PDS is general information only and does not take into account your personal financial situation or needs. Before investing, you should obtain financial advice tailored to your personal circumstances.
An investment in the Scheme is an investment in a registered managed investment scheme. An investment in the Scheme is not a bank deposit, bank security or other bank liability. There is no guarantee of the repayment of capital from the Scheme or the investment performance of the Scheme. The Offer under this PDS is available to persons receiving the PDS within Australia only.
About Xtras Health Plan Ltd
Xtras Health Plan Pty Ltd is the Responsible Entity for the Xtras Health Plan Savings Scheme trading as Your Health Wallet. As Responsible Entity, we are responsible for overseeing the operations of the Scheme as well as selecting and managing the assets (basic deposit products) within the Scheme.
How the Scheme Works
The Scheme is a registered managed investment scheme which provides an alternative to general treatment cover (extras) health insurance. Members regularly contribute funds into their account which are pooled with other members funds and invested in basic deposit products held by the Schemes Custodian. The balance of contributions made by a member is referred to as Available Now. This amount is available to spend on health needs. When the Available Now balance dips to $50, the member will be sent a notification to top up.
Applying for Membership
The minimum contribution amount is $5 per day (approximately $1,825 annually) for retail clients, payable weekly, monthly, quarterly, half-yearly or annually at the members discretion.
Withdrawals
You can withdraw up to 25% of your investment per annum through the membership portal. You will not be able to make any withdrawals during the first 12 months of membership.
Fees and Costs
| Fee Type | Amount |
|---|---|
| Platform / Administration Fee | $199.00 per year |
| Contribution Fee | 1% of each contribution |
| Balance Management Fee | 0.5% p.a. of account balance |
| Withdrawal Fee | 1% of withdrawal amount |
| Suspension Fee | $99 per suspension period |
| Non-registered Provider Invoice Fee | 10% capped at $10 per invoice |
Complaints
If you have a complaint, please contact us at complaints@yourhealthwallet.com. Your Health Wallet is a member of the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution. Website: www.afca.org.au | Phone: 1800 931 678.