Health Partner FAQ's

Who is a Registered Health Partner

Registered Health partner is a registered health business unit, which offers a health service to members of public and is based in Australia. The following criteria must be met to be considered a Registered Health Partner of  Your Health Wallet Ltd
1. You must have a Registered Business with ABN.
2. Must be Located in Australia
3. Must have Australian Bank accounts for payment processing

What does a Registered Health Provider mean?

A registered health provider is someone who holds a registration to provide a Health Service in Australia. Every health practitioner is required to be registered with AHPRA.

I am not registered with AHPRA can I become a preferred partner ?

If you are not registered, and provide alternate services such as a Float Studio. Your application will be considered on an individual basis. Please email your interest to info@yourhealthwallet.com 

Why is an ABN needed?

Members can only use the funds in their account to pay for health services with health business units located in Australia. Your Health Wallet conducts various level checks before an invoice of a member is paid. ABN check is one of them. So if you do not have an ABN, the invoice will not be processed.

How does it work with multiple locations?

Each location must be registered as a registered health partner and must have its own address that can be verified and have its own ABN. Communication address may be common. 

Does every practitioner need to sign up?

To minimise confusion and concerns, it is recommended that all practitioners are registered as preferred providers. Not all practitioners need to be registered. Only those practitioners who are registered with Your Health Wallet will be available for our members to book appointments.

What happens if I was a preferred provider and then I choose to opt out?

If a previously registered preferred health provider, opts out of being a preferred health provider, the access to platform will be terminated and Your Health Wallet may at its discretion notify members of the health providers changed status

Why would a member choose a preferred partner?

Members of YHW, seek clarity about cost of healthcare to enable them to make informed decisions and choose treatment appropriately. Lack of informed financial consent is one of the leading root causes of complaints, rejection of optimal treatment and low value of health service. Being informed will enable and foster a trust relationship that can only be good for all concerned

What happens if I have a locum?

The locum must be registered just a normal preferred health practitioner would be. When registered the locum would show up as being available for appointments

Is there a Fee Schedule

There is no stipulated Fee Schedule at Your Health Wallet. Registered Health Business set their own fees. 

Australian Owned and Operated
Designed ground up by consumers and health professionals for a better extras cover.

AFSL:   500574
ARSN: 627076411
ABN:   92618020885

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  • Licensed by ASIC to provide a financial service – AFSL 500574.
  • Your Health Wallet is registered with ASIC – ARSN 627076411.
  • Funds are held by a Custodian approved by ASIC with NAB.
  • Fund are managed as per the terms of the PDS.
  • Your Health Wallet is a member of Australian Financial Complaints Authority.
  • Funds are managed in low-risk bank depository products and can be withdrawn at any time.

*For the sake of simplicity, annual extras health insurance premium hikes and interest paid on funds held by Your Health Wallet are not factored into the comparison chart due to their variability. Premiums paid are calculated at $5/day as it is the minimum with Your Health Wallet. All Your Health Wallet fees are charges have been debited to ensure it complies with the PDS that applies to Your Health Wallet. All fees and charges levied by Your Health Wallet are deducted for the period calculated. GAP is calculated at 49.11% based on APRA Sept 21 quarter data.

Your Health Wallet is not an insurance policy, and you should consider your personal circumstances before deciding whether to open an account. Funds deposited to an account will not be eligible for a private health insurance rebate. Your Health Wallet may be considered as a replacement for or to act supplementary to private health insurance depending on your personal circumstances. Your Health Wallet does not warrant that Your Health Wallet is suitable for your personal circumstances, and you should consider your health and financial needs before deciding whether to open an account. There is a risk that you may have insufficient funds in your account to meet the costs of health treatment depending on the treatment required and the amount deposited to your account.