Velocity Points:Â
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 < $54 = 20,000 Velocity Points
Weekly premium $55 - $74 = 30,000 Velocity Points
Weekly premium $75 - $109 = 50,000 Velocity Points
Weekly premium $110 - $139 = 70,000 Velocity Points
Weekly premium $140 - $169 = 100,000 Velocity Points
Weekly premium $170+ = 150,000 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 youâve 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 youâve 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 eligible cover for 42 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 42 consecutive day period.