Frequent flyer health insurance
Qantas health insurance lets you earn frequent flyer points in sign up offers and through paying your premiums. But there are other points systems out there too, including Everyday Rewards and Flybuys.
Key takeaways
- Qantas, Velocity, flybuys and Everyday Rewards points can be earned with some health insurance policies.
- These come as both sign-up bonuses, as well as ongoing offers.
- However, the extras points aren't always worth it, if you can find a better deal.
Qantas frequent flyer deal for April 2025
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What types of points are on offer?
Health insurance customers can earn points from 4 different reward programs through either sign-up offers or premiums:
Qantas Frequent Flyer points
You can earn Qantas Frequent Flyer points by taking out a Qantas Health Insurance policy. These points can be used on domestic and international airfares with Qantas.
Velocity Frequent Flyer points
Medibank offer bonus Velocity Frequent Flyer when you sign up The offer changes, but currently it's offering up to 130,000 bonus points. These points can be used on airfares with Virgin Australia.
flybuys points
HCF has an agreement with Wesfarmers' flybuys rewards program. HCF will currently give you up to 130,000 bonus points when you sign-up. flybuys can be exchanged for Velocity points and used on Virgin Australia partner airlines.
Everyday Rewards points
Bupa typically offer Woolworths Everyday Rewards points as a sign-up bonus. The exact offer number changes, but it's currently up to 150,000 points for a couple or family policy, and up to 95,000 for a single policy. They'll also let you earn 5X points on fresh fruit and vegetables from Woolworths for 60 days after you sign up. Both are only temporary offers, so don't really offer as much ongoing value as some of the other options.
Our expert says
"Frequent flyer bonus offers for health insurance can be tempting, but they rarely come with the cheapest plans - make sure you're not paying more for the policy than the extra points are actually worth. My expert valuations for <a href="https://www.finder.com.au/frequent-flyer">Qantas</a> and <a href="https://www.finder.com.au/frequent-flyer/velocity/virgin-velocity-points-value">Velocity</a> show that a point is typically valued at around 2 cents if you spend it in flights. So multiple the bonus points available by 0.02 to see what those points are really worth in cold hard cash - and then check to make sure you couldn't get a much cheaper policy overall."
The problem with sign-up point bonuses
Some of the bonus points offers for health insurance sign-ups are pretty spectacular - UP TO 150,000 POINTS has a ring to it! However, it can be a trap.
In short, the phrase 'up to' does a lot of heavy lifting. You'll typically only get the headline points figure if you take out a top combined family policy. That means comprehensive extras, gold hospital cover, for 2 or more people.
That kind of policy can easily cost $600+ per month, which will hit around $7,200 each year. If you're already going to take out that kind of policy, then the points might be a great extra perk. But if you're looking at upgrading a policy just to get more points, it might be a mistake.
How can you earn frequent flyer points with health insurance?
There are a few different ways you can earn points on health insurance in Australia.
- Sign-up bonuses. In an effort to entice new customers, many funds offer sign-up bonus points to new members. For example, Qantas Health Insurance give new policyholders a point bonus based on the cost of their premiums.
- Collecting points with your premiums. Some programs, like HCF's deal with flybuys (as of October 2021), let you earn points with your premiums, no matter how you pay. This is just like the way you earn points at the grocery store.
- Paying your premiums with your credit card. If your credit card allows you to earn frequent flyer or other reward points on purchases, you can boost your points balance by using your card to pay for your health insurance premiums. For example, you may earn one frequent flyer point for every dollar you spend on your card.
- Wellbeing and benefit programs. Many health funds, including Qantas and AIA, give bonus reward points as part of their ongoing member benefit or wellbeing programs.
Pros and cons of choosing a fund based on points offers
Pros
- Earn frequent flyer points. You can earn frequent flyer points to help pay for your next holiday.
- Earn other reward points. You can also earn points in loyalty programs that offer a variety of other rewards. For example, you could get rewards such as shopping discounts, gift cards, travel, entertainment and much more through the flybuys program.
- You're still covered. You would still purchase health insurance regardless of whether there was a points offer available, but these offers allow you to enjoy the peace of mind of health insurance cover and earn a reward at the same time.
Cons
- Not necessarily the best cover. Just because a health fund offers reward points does not mean it offers the highest level of cover.
- Not necessarily right for you. Just because you can earn reward points for purchasing cover does not mean that a particular policy provides all the benefits and cover you and your family need.
- Credit card interest rates. If paying your health insurance premiums with your credit card to earn frequent flyer points, remember that unless you pay your balance before the interest-free period ends, you'll accrue interest charges on your card.
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