VELOCITY
Identical to previous offer (now expired) - https://www.ozbargain.com.au/node/929295 (and better than this expired deal more recently, which is was only up to 80k points)
Summary of benefits:
* 2 & 6 month waiting period waived
* 6 weeks free (after 42 days / 6 weeks)
* 20-130k VFF points (after 90 days, credited in the fourth month so potentially up to 120 days before cashing in on the points)
Eligibility:
Be a member of the Velocity Frequent Flyer program. Not a Velocity member? Join here
Join and start eligible hospital or hospital and extras cover within the promotional period
Be new to Medibank and not have held a Medibank or ahm health cover in the last 12 months, unless you’re a dependent coming off family cover
Set up direct debit, quote promo code VELOCITY and enter your Velocity membership number at time of joining
Hold the same eligible policy and maintain direct debit for 90 continuous days from the policy start date.
The blurb:
Join and maintain eligible Medibank Hospital and Extras cover or Hospital only cover to receive 6 weeks free and up to 130,000 Velocity Points. We'll also waive the 2&6 month waiting periods on eligible Extras.
Use promo code: VELOCITY. New members only. Must be a current Velocity member.* Offer ends 30 April 2026, 11:59pm AET.
(Truncated) Things to know:
*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. Policyholder of new Medibank cover must be a current member of the Velocity Frequent Flyer program (a Velocity member).
*Must meet following criteria to receive Velocity Points, 6 weeks free and 2&6 month waits waived on eligible extras (if you join extras cover): join and start eligible Medibank hospital or hospital and extras cover between 2 Feb – 30 April 2026 11:59pm AET; must set up direct debit, quote promo code VELOCITY and enter the Velocity member number of the policyholder joining
* Eligible Medibank hospital only cover or hospital and extras cover excludes Corporate, Accident only, Ambulance only, Basic Covers, Extras only, Healthy Living Extras, Overseas Visitors (OVC), Overseas Student Health Insurance (OSHC), Working Visa Health Insurance, Travel Insurance, Pet Insurance, Funeral Insurance, Life Insurance and all ahm covers. Not available with any other Medibank offer. Health insurance is issued by Medibank Private Limited ABN 47 080 890 259, a registered private health insurer.
* Velocity Points: 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. Points may not be allocated where the policy is cancelled or refunded, or where payments are in arrears. Velocity membership, Points earn and redemption are subject to the Velocity member Terms and Conditions, as amended from time to time.
* 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 - see table of rewards Points offered for different levels of weekly premiums at medibank.com.au/velocity.
*Points offered for different levels of weekly premiums are below:
*Weekly premium < $49 = 20,000 Velocity Points
Weekly premium $50 - $69 = 30,000 Velocity Points
Weekly premium $70 - $99 = 50,000 Velocity Points
Weekly premium $100 - $129 = 70,000 Velocity Points
Weekly premium $130 - $159 = 100,000 Velocity Points
Weekly premium $160+ = 130,000 Velocity Points
*2&6 month waits waived on eligible extras for new Medibank members who join hospital and extras cover: Other waiting periods apply (including 12 months on some dental services). If switching funds, any waiting periods you’ve already served for comparable extras will generally be recognised if you join Medibank within 2 months of leaving your previous fund. Annual limits apply. If switching funds, limits used from your previous fund may be deducted. If you’ve reached your limits from a previous fund you may not be able to claim straight away.
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)