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Hold Eligible Hospital & Extras Cover for 90 Days, Get 10,000-80,000 Velocity Points & Wait Waiver on Extras @ Medibank Private

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Hold Eligible Hospital & Extras Cover for 90 Days, Get 10,000-80,000 Velocity Points & Wait Waiver on Extras @ Medibank Private
Go to Deal
soan papdi on 20/08/2024 - 21:19 medibank.com.au (287 clicks)
Last edited 20/08/2024 - 23:26 by 2 other users
VELOCITY

Not the best deal but if you can tolerate them for 90 days, then you get some points for it.

  • 2 and 6-month waiting periods waived on extras.
  • You will receive your Velocity Points after 90 days from your policy start date.
  • Must be new to Medibank and not have held a Medibank or ahm hospital cover policy in the last 12 months, unless you’re a dependent coming off family cover.
  • Must set up direct debit, quote promo code VELOCITY and enter the Velocity member number of the policy holder when joining.
  • Offer excludes Corporate, Accident only, Ambulance only, Extras only, Healthy Living Extras, Overseas Visitors, Student, Working Visa Health Insurance and all ahm covers.
  • Not available in conjunction with any other offer.

Bonus points are calculated on weekly premiums expected to be paid in the first 90 days (excluding any Lifetime Health Cover loading and Youth Discount and before any adjustments for the Australian Government Rebate):

Weekly Premium Bonus
$135+ 80,000
$105 to $134 60,000
$85 to $104 40,000
$65 to $84 30,000
$45 to $64 20,000
Less than $45 10,000
Financial Ancillary Health Insurance Frequent Flyer Health Insurance Insurance Reward Points Velocity Frequent Flyer

Related Stores

Medibank Private
Medibank Private
Velocity Frequent Flyer
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closed Comments

  • evgpek on 20/08/2024 - 21:24
    +1

    Used to be 120k and 6 week free last year

    • soan papdi on 20/08/2024 - 21:28
      +2

      I remember that offer, was awesome. Maybe it was just after their breach, so had to make it sweeeeet. Now the breach is old news, the offer is worse.

  • Ozzster on 20/08/2024 - 21:36

    I'm not a Velocity frequent flyer. I googled that: "Every 2,500 Points you redeem with ‘Points + Pay’ allows you to reduce your fare by $15." So, 10k points become $60 saved on the tickets. Am I correct ?

    • soan papdi on 20/08/2024 - 21:39
      +1

      You're better off using points for reward seats on Virgin flights or transfer to a partner airline such as SIA (KrisFlyer points) and book reward seats there.

    • jeppetto367 on 20/08/2024 - 22:09

      It varies, though it's best to book what is called a Reward Seat, this is a certain allocation of seats that Virgin (and partner airlines) allocate for a small amount of points (compared to what you've Googled).

      For example last month I booked Melbourne to Frankfurt on Singapore Airlines in Business for 156,000 VA points + $510 in taxes (by memory, may be off a few points/$$). I booked last minute/a few weeks out, looking at the same flight next week it is $9715.32. So if we deduct the $510 I paid, it cost me 156,000 points to spend $9210.32. So in this case 10k VA points were worth $590.41 to me.

      It's a little confusing at first, though if you are smart about it you can optimise the savings you get using points. If you book First Class it can be even better value.

      • txb on 20/08/2024 - 23:06

        Interesting. Mel-fra is 130.5k kf on saver fares but only 156k vel, at their conversion rate of 1.55 you got it at a rate of 100.6k KF.

        • jeppetto367 on 21/08/2024 - 00:29
          +1

          I didn't want to confuse things for the above poster but I actualy flew MEL-PER-SIN-FRA in J rather than MEL-SIN-FRA.

          I actually think using VA points flying MEL-SIN-FRA in J is usually 139k points (or thereabouts), so even better value than what I commented!

          • txb on 21/08/2024 - 09:10

            @jeppetto367: Howd you go with booking the inbound return journey?

            • jeppetto367 on 21/08/2024 - 12:26

              @txb: I flew cash tickets down through Africa and then flew CPT-JNB-PER-MEL on SA for 127k points + $118. CPT-JNB was in Y, other 2 in J.

              I feel as though I was overcharged on the points but the phone agent was struggeling to book this itinerary as it is (due to mix Y/J fares I believe and can't book SA Reward online). I think it should have been closer to 80k points. Reason I needed 1 itinerary was 90 min layover in JNB and didn't want to risk any issues.

              Availability on SQ/EY/QR for the way back was basically non existant, and I was planning to visit Egypt and Tunisia this trip anyway so didn't mind going down to South Africa.

  • tunzafun001 on 20/08/2024 - 22:10
    -1

    Can only access this (or any other Medibank or 'related' ) every 12 months

    • soan papdi on 21/08/2024 - 10:09

      Yep. Listed in the deal.

  • Frozensage on 21/08/2024 - 08:21

    Before u got 6 weeks and 50k points with their better live program which can be swapped for another 4 weeks paid premium. Felt like a good deal.

  • nightelves on 21/08/2024 - 10:07

    Anyone know if you can the lowest premium then upgrade at 87 days week to get the full amount of points?

    • soan papdi on 21/08/2024 - 10:09

      Won’t work

      Must be a new Medibank member who has not held Medibank or ahm hospital cover in the last 12 months and hold the same eligible cover for 90 consecutive days to be eligible for the Velocity Points.

      • nightelves on 21/08/2024 - 10:10

        How further down it says “The level of Velocity Points is determined by referring to the weekly premium quoted for a policy”

        • soan papdi on 21/08/2024 - 10:47

          You must maintain the same cover for 90 days to get points and how many points is determined by the amount you pay weekly. They're not contradictory. If you change the cover midway, they will likely use the lower amount to grant points.

  • vegemite2008 on 26/08/2024 - 17:01

    A question…

    Any disadvantages of switching between health funds (to get perks) a few times every year if we keep to the same level of cover when changing funds?

    • soan papdi on 26/08/2024 - 17:06

      IIUC you have nothing to lose. Just ensure there is no gap in coverage, otherwise you might have to serve hospital wait periods again. Also the funds talk to each other when switching, so you won't be able to get a new pair of spectacles every 2 months.

      • vegemite2008 on 26/08/2024 - 20:29
        -1

        "so you won't be able to get a new pair of spectacles every 2 months"

        That's not a good deal ….

        • soan papdi on 26/08/2024 - 21:09

          No deal will reset your extras after every churn. You’re not the first person to think of this.

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