Use the promo code VELOCITY when you take out an eligible hospitals and extras policy with Medibank and receive 45,000 to 150,000 bonus Velocity points plus 6 weeks free. The points are awarded after 90 days so with the free six weeks that kick in after 42 days, meaning you should only have to pay for 7 weeks to earn the points.
Also, if you pay via direct debit you can earn an additional 20,000 extra Velocity points on top – just ask the salesperson when signing up.
| Medibank Weekly Premium Range | Velocity Points Earned |
| $130+ | 150,000 |
| $115 – $129 | 120,000 |
| $90 – $114 | 95,000 |
| $65 – $89 | 65,000 |
| $45 – $64 | 55,000 |
| <$44 | 45,000 |
What are 150,000 Velocity points worth? It depends on how you redeem them:
Terms and conditions
General terms: For new members on new memberships who have not held Medibank or ahm hospital 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 join and start eligible Medibank hospital or hospital and extras cover between 2 June – 30 June 2023 to receive Velocity Points, 2&6 month waits waived on extras (if you join extras cover) and 6 weeks free. Must quote promo code VELOCITY and enter the Velocity member number of the policy holder when joining. Excludes Corporate, Accident only, Ambulance only, Extras only, 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 hold the same eligible cover and remain up-to-date with premium payments for 90 consecutive days from the policy start date 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 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.
2&6 month waits waived on extras terms: 2&6 month waiting periods on extras will be waived for 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.
6 weeks free: Must remain up-to-date with premium payments and hold eligible cover for 42 consecutive days from the policy start date to get next 6 weeks free. The 6 weeks free will not be issued if you change to an ineligible cover, terminate your cover or suspend your cover during this period.
