Join & Hold Hospital & Extras Cover for 90 Days on Direct Debit, Get up to 130,000 Velocity Points & 6 Weeks Free @ Medibank

540
Join & Hold Hospital & Extras Cover for 90 Days on Direct Debit, Get up to 130,000 Velocity Points & 6 Weeks Free @ Medibank
Go to Deal
nico8amy on 17/02/2025 - 16:51 medibank.com.au (2371 clicks)
Last edited 17/02/2025 - 17:21 by 1 other user
VELOCITY

For new members on new memberships who have not held Medibank or ahm health cover in the last 12 months (unless a dependant coming off parents' cover) and who are Australian residents.

must set up direct debit, quote promo code VELOCITY and enter the Velocity member number of the policyholder joining.

Must maintain direct debit and hold the same level of eligible cover or above for at least 90 consecutive days from the policy start date in order to be credited Velocity Points in the fourth month.

6 weeks free: Must maintain direct debit and hold the same eligible level of cover or above for 91 consecutive days from the policy start date in order to be eligible to get the next 6 weeks free. The 6 weeks free will not be issued if you change to an ineligible cover, terminate or suspend your cover, or where payments are in arrears during the 91 consecutive day period.

Health & Beauty Ancillary Health Insurance Frequent Flyer Health Insurance Insurance Reward Points Velocity Frequent Flyer

Related Stores

Medibank Private
Medibank Private
Velocity Frequent Flyer
Velocity Frequent Flyer
Marketplace

Comments

  • Mike Nolan on 17/02/2025 - 17:04
    +1

    Sliiiiightly OT but has anyone taken advantage of the % off Goodlife offer thru Medibank and then churned to a different provider? If so, does the discount remain in place?

    • runamuck on 17/02/2025 - 17:48
      -1

      Slightly overtime??

      • chibichip on 17/02/2025 - 18:48
        +3

        off topic

        • runamuck on 17/02/2025 - 22:09

          Thanks.

    • txb on 17/02/2025 - 20:51
      +1

      Youd be better off trying to find another Goodlife member wanting to transfer their membership whos on a good rate. I got mine off a rando in another state

      • Mike Nolan on 17/02/2025 - 20:52

        I’m already on a good rate, I just don’t wanna lose it if I change providers lol

        • txb on 17/02/2025 - 20:55

          My hunch is it wouldnt as you deal with Goodlife who tell Debitsuccess what to charge you per the contract. If the medibank offer is applied there must be some more information about how it is applied, when it ceases etc

          • Mike Nolan on 17/02/2025 - 20:57

            @txb: Yeah… I had to show them proof of membership when signing up and it’s linked somehow because I get bonus points for going a certain number of times a month
            But there’s nothing in the T&Cs about it, they only state that you need to show proof of membership when you first join to get the rate

            • txb on 17/02/2025 - 21:02

              @Mike Nolan: If it were me I would just see that as a hurdle. Once youre in, youre in and they wont question it again.

              • Mike Nolan on 17/02/2025 - 21:13

                @txb: Yeah! Of course I can ask the question (of both GL and MB) but I’ve the feeling that neither would be able to answer with any certainty

  • Ehx on 17/02/2025 - 17:08
    +3

    Just so I am understanding this correctly…

    I quickly did a quote for a 27M single. Hospital + extras.

    24.99 a week.

    90 days =12 weeks

    12 x 24.99 =299.88 dollars

    Let’s say points are worth 2c per point for international economy.

    0.02 x 120000 =2,400

    2,400 dollars worth of points for 299.88.

    Didn’t take into account that the fourth month might need to be paid for so just add another 24.99 x 4 =99.96.

    If i got something wrong let me know

    EDIT: I’m dumb

    Medibank Weekly Premium Range
    Velocity Points Earned
    $159+ 130,000
    $129 - $158 100,000
    $99 - $128 70,000
    $69 - $98 50,000
    $49 - $68 30,000
    <$48 20,000

    This is not worth it ignore everything I said

    • nico8amy on 17/02/2025 - 17:18

      If you go 20k points which is valued at around $0.012~0.013/point. Then it's $240 in value at least.

      U pay upto 90 days which is around $300. Then the 6 weeks free kicks in.

      Basically you getting 18weeks of hospital + extra cover for $60 bucks without considering all their extra cover and perks (20%off gym membership)

      • Ehx on 17/02/2025 - 18:20

        Sounds like too much work for not much reward. I don't have hospital or extra cover atm, so for me — doesn't make sense. I'm sure someone in the private health ecosystem will find it useful.

    • Drakesy on 17/02/2025 - 20:03
      +2

      Glad that you came to the realisation on your own.
      I'm in the same boat, almost always is pointless chasing the points on these because of how its broken down.

    • Anon257 on 19/02/2025 - 23:23

      So instead of spending on flights (because I don't fly much), I had a look at the velocity store and this points deal seems much better than the regular Medibank deals that give you 25000 points.

      You can use 112K velocity points for 2 sets of Airpods 4 with Noise cancellation. That would normally cost $600.

      So velocity points offer is much better than this previous deal: https://www.ozbargain.com.au/node/889448

      25,000 points = ~$200 value (gift card, amount off premium).

      Unless I am missing something, this deal seems quite worth it to me so i can avoid MLS and get a new pair of glasses and dental checks.

  • bluepop on 17/02/2025 - 17:09

    Damn. I did the other offer. This is much better

  • GoIdDigger on 17/02/2025 - 17:18
    +1

    Great deal, too bad I’m not near that 12 month mark yet otherwise would have definitely gone for this

    • digitalane on 17/02/2025 - 18:48

      Same. Just switched to HCF waiting on 6 week free to finish (and get $300 card). Then have locked in Buia with 4 weeks free and $200 Cashback. Next I will do ahm before June 30 (which I think rules me out of doing Medibank)

      • misscathxoxo on 17/02/2025 - 21:07

        I hope you're always checking that your Transfer Certificates have the correct info, otherwise this sounds like a nightmare if something goes wrong with your waiting periods.

        • digitalane on 17/02/2025 - 22:48
          +1

          Not had a problem in 10+ years

    • vision1600 on 18/02/2025 - 22:27

      I currently on just an extra cover through Medibank, does this make me ineligible for this offer?

  • GossipGoat on 17/02/2025 - 17:28
    +3

    Just a question as someone whos been with one provider since i got onto private health - do i need to cancel my existing policy (with BUPA) or is it simply enough to click on that button that gives medibank permission to cancel and transfer policy?

    • dankru on 17/02/2025 - 17:33
      +1

      The button is fine. It’s all automated.

    • starburstyellow on 18/02/2025 - 12:03

      I did this deal few months ago, went with button. No need to call Bupa.

  • Outatime13 on 17/02/2025 - 17:31

    Does anyone know if you can join this while having hospital and extras with someone else. As I would only join to get the points then cancel it all.

    • rvsure on 17/02/2025 - 17:41

      From what I know if you have more than one heath insurance both can reject to pay you when the need comes to make a claim.

      • GossipGoat on 17/02/2025 - 18:56

        I thought it was you can make a claim with one but not both

        That’s the policy with all other types of insurance anyway

        • rvsure on 17/02/2025 - 19:07

          Hmm I might be wrong. I wonder how the government subsidy work for second cover. Can you double dip into that?

    • tunzafun001 on 17/02/2025 - 22:05
      +1

      Can only have one hospital cover, but as many extra covers as you want.

    • YesPleaseThankYou on 18/02/2025 - 10:23

      You might be in breach of Fund Rules prohibiting concurrent membership.

      Further, you would be claiming the government rebate twice for the same period. Another no no.

  • Caped Baldy on 17/02/2025 - 17:35
    +3

    Highly recommend to get the app and do the weekly challenges for points which can be redeemed for premium discounts, some limited shop gift cards, and cover benefits.

  • will_nn on 17/02/2025 - 17:36

    You can join the basic hospital cover and still get 20k velocity points right?

  • dumdum2 on 17/02/2025 - 19:14

    So they're now excluding ahm members from the promos…

    • digitalane on 17/02/2025 - 20:19

      Is that new?

      • chanhoz on 18/02/2025 - 11:49

        no, have been for awhile now

  • ripp3r on 17/02/2025 - 19:24

    Just wondering what percentage of people here have private insurance.

    • Gavman on 17/02/2025 - 20:22
      +2

      Not many if any

      • kobeduck on 18/02/2025 - 12:04
        +3

        How many dudes you know got the skills to go and rock a show like this?

    • Mike Nolan on 17/02/2025 - 20:53
      +1

      Me. It turns out that I was paying pretty much the same amount in MLS for not having it.

    • keejoonc on 18/02/2025 - 12:43
      -1

      Obviously, it depends on your income, but for a lot of people they really have no choice as it's not much different financially due to being slapped with MLS if you don't have private health insurance. At least you get some benefit from having it vs paying MLS and not getting anything in return.

    • Anon257 on 19/02/2025 - 23:09

      I would have to pay MLS anyway due to high income, so it is worth it and I also get glasses and dental check-ups using extras.

  • gembel on 17/02/2025 - 19:51

    Any other insurances with free weeks and bonus points currently?

  • vision1600 on 17/02/2025 - 20:21
    -1

    Does this count as holding extra cover? I currently hold an extra cover with them.

  • Gavman on 17/02/2025 - 20:24
    -1

    I don’t get it. How is this worth it? Or are people looking to switch anyways and the velocity points are a sweetener? I don’t have PHI and rekon is mostly a scam so if the points arnt worth the squeeze I don’t think it’s worth bothering

  • LittleTicket on 17/02/2025 - 21:28
    +3

    Not sure about others, but using Velocity points on flights has become pretty crap and you need a lot of points to get anywhere. Almost feels like the flying kangaroo has better rates / options.

    • tunzafun001 on 17/02/2025 - 22:06
      +1

      Yeah, they have switched.

      It was much better when Virgin was viewed as the little pleb brother.

    • Planes are cool on 02/03/2025 - 18:28

      Well the velocity program was recently overhauled and Qantas frequent flyer is about to be overhauled later this year requiring more points as well so both programs are getting worse, not just VA

  • itsmehuey on 18/02/2025 - 09:58

    thanks for this. currently with bupa with baby/preganancy cover but we're at the end of our pregnancy journey so currently looking to make a switch from bupa (paying approx $260 a fortnight for gold hospital and top extras). would we need to cancel our cover with bupa if we sign up for another PH provider? those bonus velocity points look extra tempting as well as we'd hope to go for a holiday within the next year!

  • Q3211 on 24/02/2025 - 16:14
    -1

    Brain trust, I need some help with my math.

    Essentially looking at getting dental work done and I suspect it to cost me around $3k. So, I would be looking at a plan with no annual limit for general dental. That leaves me with Medibank Bronze Plus Support and Top Extras (Plan). I can then choose between extras claim back of 75% or 90% to get the no annual limit.

    Plan with 75% claim back:
    Weekly fee of $41.73 * 13 (rounding up the 90days) = $542.49
    Dental cost of $3k at 75% claim back = $750
    20K virgin points at 0.012 = $240

    Total = $542.49 + $750 - $240 = ~$1,052

    Plan with 90% claim back:
    Weekly fee of $49.98 * 13 (rounding up the 90days) = $649.74
    Dental cost of $3k at 90% claim back = $300
    30K virgin points at 0.012 = $360

    Total = $649.74 + $300 - $360 = ~$590

    Is that right?!
    Just on virgin point differences between 75% and 90% I would be saving as the difference between the points would be ~$120 (makes up the difference in 13 weeks of fees).

    • Q3211 on 25/02/2025 - 10:56
      -1

      I have further confused myself.
      For arguments sake under the singles top Gold Ultra Health plan, it works out to be an even better deal.

      I seriously think I am missing something because I am thinking this is an amazing deal when others think it's not so.

      Note this: The level of Velocity Points you could earn is determined by referring to the weekly premium quoted for a policy, (before any adjustment for the Australian Government Rebate on private health insurance and excluding any Lifetime Health Cover loading, Youth Discount or any other discount or promotion) regardless of the payment frequency selected.

      Gold Ultra Health Plan - excluding Rebates
      Weekly fee of $138.44 * 13 (rounding up the 90days) = $1799.72
      Dental cost of $3k at 100% claim back = $0
      100K virgin points at 0.012 = $1200

      Total = $1799.72 + $0 - $1200 = ~$600

      Gold Ultra Health Plan - including Rebates (noting the above)
      Weekly fee of $102.91 * 13 (rounding up the 90days) = $1337.83
      Dental cost of $3k at 100% claim back = $0
      100K virgin points at 0.012 = $1200

      Total = $1337.83 + $0 - $1200 = ~$138

      So for 19 weeks (13 weeks paid + 6 weeks free) the breakdown per week is:

      Plan with 75% claim back: $55.39/w
      Plan with 90% claim back: $31.04/w
      Gold Ultra Health Plan - excluding Rebates: $31.56/w
      Gold Ultra Health Plan - including Rebates: $7.25/w

      Obviously, this is presumed value based off Virgin points of 0.012.
      So going for the top plan is still worth it, even if you exclude dental - and it works out even better if you get rebates.
      In my case I would stand to save more given my dental needs given that 3K would be 100% rebated on the gold plan, and the total of the plan still comes under $1337.83 for 19 weeks.

      Thoughts?

      • nico8amy on 25/02/2025 - 16:19
        -1

        I'm on couple insurance with gonna get 100k VFF. My calculation is about the same. You are not crazy. Its a ripper deal if you already got hit with MLS. Around $600 out of pocket for 19 weeks hospital cover with top extra and value VFF at 0.012c which is the lowest ball offer.

  • povo7 on 25/02/2025 - 15:48

    Dumb question but how do you qualify for the 130k points if the highest/most expensive plan is $115/wk? What have I missed???

    • nico8amy on 25/02/2025 - 16:12

      I have adjusted the hopital excess down from $750 and increase % of claim from 60% to hit over the threshold. And people can be on couple or family covers

  • sii on 10/03/2025 - 21:43
    -1

    In theory we can reduce Australian Government Rebate to increase weekly payment to get higher points? As your rebate gets adjusted at your tax return anyways. Has anyone done this?

    • nico8amy on 10/03/2025 - 21:59

      The premium eligible is exluding rebate

Login or Join to leave a comment
Login Join