Join & Hold Eligible Hospital & Extras Cover for 90 Days, Get 20,000-130,000 Velocity Points & Wait Waiver on Extras @ Medibank

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ryefig on 24/09/2024 - 15:20 medibank.com.au (356 clicks)
Last edited 24/09/2024 - 15:54 by 2 other users

VELOCITY

A points upgrade on a previous deal through Medibank.

Join and maintain eligible Medibank hospital and extras cover or hospital only cover to receive up to 130,000 Velocity Points. We'll also waive the 2&6 month waiting periods on extras. Must set up direct debit, quote promo code VELOCITY and enter the Velocity member number of the policy holder when joining.

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.

Crunching the numbers, to earn the maximum number of points, the minimum cost will be $2044.28 which is only marginally better than buying the points.

Weekly Premium	Bonus
$159+	130,000
$129 to $158	100,000
$99 to $128	70,000
$69 to $98	50,000
$49 to $68	30,000
<$48	20,000

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• 

  MaxHashrate on 24/09/2024 - 16:08

  -3

  Previously with medibank 6 months ago… Just wondering if I used my spouse to sign up with her velocity number would that count as new member?

• 

  nepaus on 24/09/2024 - 16:26

  Can we change the premium after 90 days and still get 130k points?

  • 

    starburstyellow on 24/09/2024 - 17:17

    +1

    Yes. Did this last time around , on the 91st day , once bonus hit my account I went on chat and reduced plan back down to a reasonable amount.

    Pro tip: don't claim the Medicare rebate to reduce premium until 91st day to artificially inflate and obtain max bonus.

    • 

      homie on 24/09/2024 - 17:27

      Care to elaborate? Been holding bupa hospital only for the past few years. New to churning. TIA.

      • 

        starburstyellow on 24/09/2024 - 18:48

        +4

        Sure! When you sign up to the Medibank deal, the idea is to maximise the premium to get the most e.g. $159+ per week to get the 130K. Upon getting to nearly the end of the sign up page, it will ask you something along the lines of Apply Government rebate (more here: https://www.medibank.com.au/health-insurance/understanding-h…). Put simply by setting it to No, it does not apply the 24% rebate so you can get the bonus easier. I believe tax wise it all comes out in the wash later anyway.

        Then as soon as bonus hits your account, feel free to login to medibank and say yes, to the govt rebate. In my example, my work has a corporate plan, so what I did, I said yes to the govt rebate, and then asked the consultant to apply me on the corp plan.

        Hope the above is clear. Any further clarifications about tax etc, I suggest you speak to your tax accountant.

    • 

      Austin69 on 26/09/2024 - 14:43

      just to confirm, you actually paid $159 + for 3 months to get the sign-up points? I pay 160 per month for silver plus through HCF so this sounds like a big expense just to get the points, unless you pay this much for insurance anyway.

      • 

        starburstyellow on 26/09/2024 - 17:21

        100% it's not the cheapest way to get 130k vff by any stretch but I value the points greatly for travel so feel it's worth it.

        No my usual per month is about $250-$300 for 2 people.

      • 

        nightelves on 27/09/2024 - 05:11

        +1

        It’s actually $159 per week and not month.

        • 

          Anon257 on 27/09/2024 - 11:13

          @nightelves: $159 per week is insane!
          I was considering this till i realized i only pay $180 per month on BUPA

        • 

          Austin69 on 27/09/2024 - 11:56

          @nightelves: ya ik 159 per week. if it was per month they wouldnt be offering 130k vff points.

    • 

      nightelves on 27/09/2024 - 05:05

      Wait when did you last do this as it says you need to hold the same cover for 90 consecutive days.

      Nvm you started at max premium to begin with.

• 

  billdsl on 24/09/2024 - 16:27

  Intradasting, as someone forced to have private health and points collecting i think ill do some somes and coverage review

  Out of our limits until January anyway so could just be a switch for points for the final 3m of the year?

  Never churned health providers so not sure how hard it is

• 

  Ozfanmel on 24/09/2024 - 17:11

  I think the deal few months was best deal as its included 6week free top of velocity points. https://www.ozbargain.com.au/node/799560

  • 

    starburstyellow on 24/09/2024 - 17:18

    Few months? That was literally last year lol

    • 

      Ozfanmel on 24/09/2024 - 17:58

      lol there was similar one on June . Okay anyway

• 

  Shadowsfury on 24/09/2024 - 17:31

  Doesnt exclude AHM holders for once

• 

  evgpek on 24/09/2024 - 19:55

  Can my partner be a new member for couple insurance if I had it within 12 months?

• 

  cnut on 24/09/2024 - 20:19

  +2

  That’s about 2,000 points per leaked piece of info about you in the next data breach. Not bad!

  • 

    nicolascage on 02/10/2024 - 13:57

    cnuts

• 

  Anon257 on 24/09/2024 - 20:41

  https://www.ozbargain.com.au/node/849568

  Is it better to wait for a previous deal like this with 25,000 Live Better Points (for singles) +12 weeks free?

  Not sure what you can buy with 25,000 Live Better Points compared to velocity? I am more interested in gift cards as I don't fly much

• 

  ndang12394 on 25/09/2024 - 09:45

  +1

  Super weird,

  I just click on the link for a quick quote, no personal info was given/input. Left it there for half an hour then Medibank called me to discuss the cover?????
  I mean I used to be with Medibank like 5 years ago on a Travel Insurance and my info was leaked in the latest data breach.

  BUT HOW TF DID THEY KNOW IT WAS ME HAVING A LOOK AT THEIR PRODUCTS TO DISCUSS WHILE I NEVER LOGGED IN OR PROVIDED ANY PERSONAL INFORMATION DURING THE QUOTING STAGE?