Some people wonder why they should bother with Your Health Wallet when they could just save the money themselves. The reality is that in doing so, they’d be missing out on some significant benefits, including:

• Pooled funds so you can earn interest from the very first dollar.
• Group purchasing power.
• Capped fees with participating health providers anywhere in Australia
• No discipline is required, even under financial duress.

Youth Health Wallet is Australian Owned and Operated.

You can trust us because:

1. Being a financial services product, it is highly regulated by ASIC.
2. Your funds are held securely by a Custodian who must provide financial guarantee to hold such funds under its management. So you can be sure your funds are safe
3. As a member, you have complete visibility and transparency of every transaction, like any online banking platform.
4. Only instructions provided via the secure platform will be accepted for processing.
5.  XHP is independently audited for compliance with the scheme and licensing requirements.

You pay to use the Youth Health Wallet platform when you sign up. This is done via your credit or debit card. The platform fee is $199. The platform fee can be paid from your account balance from the second year onwards. Non-payment of the Youth Health Wallet platform fee will result in restricted access to the platform.

The Custodian of Your Health Wallet holds your funds. The custodian charges a fee for holding the funds. The custodian charges a contribution fee of 1% of your contributions, and scheme management fees are 0.5% of your monthly account balance.

Your Account balance is your actual balance after deducting fees and charges. It is what you can spend immediately on your extras health needs.

Available Now are the funds you can spend at any moment.

Available Hold is the funds held for the payment of health invoices you have accepted from a preferred health partner.

After the first anniversary of your membership, the minimum account balance you must have is called account minimum, which is $100 per month. You will be notified of this at your account anniversary. The minimum account balance is always protected. If the minimum account balance is triggered, you will have 21 days to rectify your account balance and ensure that the minimum is paid to keep your account active.

You can change how much you contribute at any time through the membership portal, provided it is above the minimum contribution amount.