This was posted 2 years 5 months ago, and might be an out-dated deal.

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6 Weeks Free + 2 & 6 Months Waiting Periods Waived On Extras + up to 50,000 Live Better Points @ Medibank (New Customers)

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6 Weeks Free + 2 & 6 Months Waiting Periods Waived On Extras + up to 50,000 Live Better Points @ Medibank (New Customers)
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XabiFernando on 23/06/2022 - 10:58 medibank.com.au (1077 clicks)
Last edited 01/07/2022 - 15:17 by 1 other user
EVENBIGGER

For those who are in the habit of churning PHI providers like they churn credit cards, the combination of the 6 weeks free and the Live Better points makes this probably the best deal I've ever seen.

One possible way to take advantage of this promotion is to take the lowest Bronze H&E package for families. Using the below parameters, I come up with the following calculation:

State: NSW
Cover Type: Families
Age/Partner's Age: 30/30
Family Income: $180,000 or less

Cover Name: Bronze Plus Progress & Essential Extras
Weekly Cost: $50.23
13-week Cost: $50.23*(13-6) = $351.61
Use of $200 premium payment for 25,000 Live Better points^ = $351.61 - $200 = $151.61

So essentially, for $151.61 this hypothetical family gets 3 months of a basic (but not junk level) PHI cover, 25,000 remaining Live Better points which could be used as per the below terribly formatted table, and the ability to use up to $150 of Optical benefit at 100% back.

Reward Points
$200 Premium Payment 25,000
AirPods (2nd generation) 22,000
Fitbit $200 e-Gift Card 20,000
HelloFresh $200 e-Gift Card 20,000
adidas $200 e-Gift Card 20,000
Extras Limit Increase $200 20,000
Beats Flex - All-Day Wireless Earphones - Black 10,000
Remedial massage up to $115 10,000
Amcal $50 e-Gift Card 5,000
Specsavers $50 Optical Out-of-Pocket Reward - MCA Provider 5,000

Understand PHI can be a controversial topic in light of the ongoing debate around Public v Private hospitals, but for those that are comfortable with paying for PHI, hope this helps someone!

^ The premium reduction can only be claimed once per year, I've tried this.

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closed Comments

  • A female dog on 23/06/2022 - 11:05

    Might be slightly off topic but can anyone recommend any such PHI cover that would cover a root canal? i might have a root canal coming up in the next few months and never had private health cover before but wasn't able to find such cover. I've been quoted approx $1.6k out of pocket for the process (which seems quite costly for the procedure??). Really hoping to sign up to some level of cover that could at least partially cover this cost. Happy to wait the waiting period as it isn't likely i'll be needing one for at least a few months.

    • PlushyAngel on 23/06/2022 - 11:10
      +11

      Have you considered RSPCA pet insurance

    • Bowchkawowow on 23/06/2022 - 11:10
      +2

      Probably under major or complex dental? you need to wait 12 months if you aren't currently covered for it under your current PHI.

      Medibank top cover with 90% claim back is the best I've found though but it's pretty expensive if you need it just for this one thing.
      If you can can get CBHS health cover they have a promo got an email all waits waived on extras plus 6 weeks free or a gift card up to $500

      Issue with CBHS is you need a family member who works for CBA.

      • A female dog on 23/06/2022 - 11:19
        +1

        Hmm, yeah, just need cover for this one thing. Might actually be cheaper to just fork out the cash as opposed to taking out a comprehensive cover with a lot of extras that i won't be using. Thanks for the insight.

    • Herb Utsmellz on 23/06/2022 - 11:17
      +3

      Not going to be much better off than paying the $1600. I could be wrong but you would still have to wait the 12month major dental waiting period.

      • A female dog on 23/06/2022 - 11:20

        I believe you are right. Might be better off just paying it out directly than taking comprehensive cover and not utilising all the features and benefits of said cover.

    • iseeyou1312 on 23/06/2022 - 11:25
      +2

      You would want top extras coverage, as root canal will fall under major dental (so not hospital insurance). But there will be a firm 12 month waiting list.

    • Jessie Ryder on 23/06/2022 - 11:41

      You have to wait a year for Major Dental.
      Why not just brush your teeth each day?

    • d3al on 23/06/2022 - 12:00
      +4

      Not being sarcastic, but you could buy a ticket to India (New Delhi) for ~$1,000, go to a nice dental clinic (India has some of the best medical tourism facilities in the world) and get your root canal done (~$100 - $150 depending on complexity), spend the remaining $500 sightseeing and squeeze in a nice holiday visiting a new country.

      • sistermay on 23/06/2022 - 12:41
        +2

        My husband done that in Vietnam, the dental clinic he went with mainly treat foreigners on dental tour, he's been there twice for different procedures and saved thousands. It's been 4 or 5 years now and he's been happy with the work done.

      • Bowchkawowow on 14/07/2022 - 11:25

        Could you please share the details if you have a good one in India?

        • d3al on 14/07/2022 - 11:53

          I haven't had dental work done here but had my tonsils and adenoids removed (at the Gurugram hospital - their largest one) at Medanta.
          It's an excellent private facility that's close to Delhi so you'll well placed to go do some touristy stuff like see the Taj Mahal which is relatively close by

  • Drakesy on 23/06/2022 - 11:11

    $350 more than my current phi
    Thanks medibank
    Also doesn't help not being in a rebate bracket I guess

    • Bargain Fighter on 23/06/2022 - 17:17

      What's your current PHI provider?
      Did you compare this one and yours having exactly the same types of cover items?

      Thinking of signing up Hospital insurance with Medibank.

  • knobbs on 23/06/2022 - 11:17
    -5

    Family Income: $180,000 or less

    This is OzB, no family is earning less than $180k

    • knobbs on 23/06/2022 - 15:28

      I guess not everyone reads the forums

  • iseeyou1312 on 23/06/2022 - 11:19
    -4

    Even with the discount, you're still likely better off in a mutual fund (who also offer the same sign-up bonuses). The corporate funds are very expensive and terrible value, but that's how they make enormous profits.
    What's the point in people being sick if the shareholders can't collect their dividends?

  • looster on 23/06/2022 - 11:32

    Dislike it when the offer is only for new customers. I have been with Medibank for years and no such offers offered to me. Ggrrr!

    • Whatisthatvelvet on 23/06/2022 - 11:45
      +1

      Leave to another fund that has a similar offer.

      Then come back to Medibank again when they offer similar deal.

      • Dr Techno on 23/06/2022 - 12:38

        true but over the years they tend to fine tune and cut back on their cover.. so cover from donkey years ago thats no longer available might have more inclusions than a more modern one but then you dont get specials when jumping from fund to fund.

    • MBix on 23/06/2022 - 12:36
      +1

      I switched out to QANTAS a month or so ago, called Medibank to confirm (payment was coming up) and they offered me 6 weeks free to stick around. Not as good as the above deal but better than zilch

    • sistermay on 23/06/2022 - 12:48
      +4

      Before you jump to the other fund make sure you compare the plan cover like for like. What I found is a lot of the older plan in fact give you better cover and claim back value. For health insurance you have to make sure the level of cover / claimable amount is what you are happy with, not just the premium you paid
      It just happened I rang Bupa last night for a quote, the plan I have as offered has lesser cover but cost $21 more when compares to Medibank so be mindful about reading the details before you change.
      Contrary to what others here said, I found the big 2 (bupa+medibank) have better plans at lower premium than the not for profit ones when you compare like for like plans.

  • LittleTicket on 23/06/2022 - 11:32
    +1

    You do realize that a lot of the funds are just whitelabeled by the majors yeah?

  • imissbeans on 23/06/2022 - 11:49

    Can anyone tell me what services this is for with Medibank?

    2 & 6 Months Waiting Periods Waived On Extras

  • Shuey on 23/06/2022 - 12:03

    If I have been with another PHI provider with equivalent cover and extras and have gone through the waiting period, say 2, 6 or 12 months (i.e. no break in the period of cover).. If I do move over to Medibank, would I still need to serve those 12 months waiting period?

    • MBix on 23/06/2022 - 12:37

      If you’ve already served them they generally honour it. They made a mistake with mine and I had to chase them up but was fixed instantly

      • Shuey on 23/06/2022 - 12:50

        Ah, thought so. Thanks. Will take note of that

  • ady211 on 23/06/2022 - 12:48
    +1

    I shifted from Bupa roughly 3 months free with points plus 6 weeks and $20 cheaper for very similar coverage.

  • Bdawg on 23/06/2022 - 14:29

    Interesting offer, I used to churn, but I think I'll just stick with my hospital only at $14.10 a week with AHM!

  • cheapo999 on 23/06/2022 - 20:32
    +1

    This is better than corporate discount (-11%).

  • PeeDee on 23/06/2022 - 20:46

    Don't you have to stay for a minimum timeframe to qualify for the pts? So cause there is no cooling period, optical, dental etc can be taken advantage? Then how is Medibank insurance even benefiting anything from it? What's in it for them?

    • dorikin on 29/06/2022 - 21:36

      was searching for the same answer..

      only thing I could find was this in the T&C

      "Live Better points could take up to 10 weeks from the policy start date to be loaded to the policyholder’s Live Better account. Live Better Rewards terms: Must be a Medibank member with hospital cover, extras cover, or hospital and extras cover, be up-to-date with premium payments and have signed up to Medibank Live Better with ‘My Medibank’ or have linked their MyMedibank account with their Live Better account to redeem rewards."

      • PeeDee on 29/06/2022 - 21:55

        I see. Hopefully, it doesn't process that late so that we can terminate our contract and leave with the points.

  • tekisei on 28/06/2022 - 23:51

    Trying to find the schedule of fixed amount benefits for Medibank Private is impossible! There are only very few providers for the percentage rate of benefit.

  • vegemite2008 on 29/06/2022 - 01:05
    +1

    Just transferred. No brainer to get $940 in extra value (6 weeks and $400 (50000 life style whatever points) towards premium. Saving another $120 month compared to old provider.

  • Daibaw on 29/06/2022 - 15:45

    The Velocity Offer is back with 6 free weeks as well. Depending on the level of cover you are after and what can you do with Velocity it could be a better deal.
    For me, that works out as shelling out a few extra hundred to buy me and missus a return flight to Perth or Fiji on business.

  • dorikin on 29/06/2022 - 21:41

    To be clear, you must pay for the first 6 weeks to get the next 6 weeks free

    "6 weeks free terms: Must maintain direct debit and hold eligible product for 42 consecutive days from the policy start date to get next 6 weeks free"

    • vegemite2008 on 30/06/2022 - 00:23

      Still a good deal. Paying every 2 weeks even cheaper.

  • vegemite2008 on 03/07/2022 - 16:58

    I just checked my cover. I have been with a different private health insurance provider for more than 10 years, top cover.

    Medibank has applied a waiting period for major dental. Is that correct?

    I thought any existing cover and served waiting periods would carry over.

  • cooni on 29/07/2022 - 07:57
    +3

    Got my points credited and redeemed for premium payment after signing up on June 7 or so. They've debited 1 months worth of premiums and if I'm reading my account properly my account has been paid until October 4 (or maybe it's one more month after that because it says due amount $0). What a deal!

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