Things you should know 

* Medibank health insurance x Velocity points offer:

General terms: Velocity is not the issuer or arranger of any health insurance product. Any information provided is general only, is not advice and has been prepared without taking into account your circumstances.

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 17 February  – 8 April 2025; 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, 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 < $48 = 20,000 Velocity Points
Weekly premium $49 - $68 = 30,000 Velocity Points
Weekly premium $69 - $98 = 50,000 Velocity Points
Weekly premium $99 - $128 = 70,000 Velocity Points
Weekly premium $129 - $158 = 100,000 Velocity Points
Weekly premium $159+ = 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.

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.