Medibank vs Bupa: which health insurer has the better $300 deal right now?
Key takeaways
- Both Medibank and Bupa are currently dangling $300 at new individual customers. We ran the numbers to see which delivers the most overall value.
- Bupa's $300 comes as Everyday Rewards Dollars (60,000 points), while Medibank's reward via Finder is a Visa gift card you can use anywhere.
- What's next: Check out the exclusive reward for new Medibank customers and sign up today.
Medibank and Bupa are running $300 sign-up deals for new customers. On the surface, they look pretty much identical.
Same dollar amount, same cover requirement (combined Hospital and Extras), same general idea: sign up and get rewarded.
So, which delivers the better value for new members?
Let's break it down by taking a look at both offers.
The Medibank deal
Switch to an eligible Medibank Hospital and Extras policy through Finder before 30 June 2026, and we'll reward you with a $300 digital Visa gift card.
But that's not all, Medibank also has its own offer up for grabs.
If you use the Medibank coupon code "12WEEKSPLUS" when you join, new members also get up to 12 weeks, which depending on your premium, could be worth $600 or more.
You'll also be able to score up to $300 in gift cards, delivering a combined value of up to $900.
The Bupa deal
Bupa is offering new individual members $300 in Everyday Rewards Dollars, or 60,000 Everyday Rewards points, when you take out a combined Hospital and Extras policy before 8 July 2026.
One thing to note is that Bupa's offer can't be combined with any other promotional deal, so there's no stacking on free weeks or additional perks.
That $300 is also locked into the Woolworths ecosystem, which can limit your spend flexibility.
So which one is better?
If you're purely after cash-equivalent value, Finder's Medibank reward may be your best bet. The ability to stack the $300 Finder gift card with up to 12 weeks free and up to $300 in gift cards through Medibank delivers a whopping sign up package.
Bupa's offer makes more sense if you're already embedded in the Woolworths loyalty ecosystem. But for the average switcher who wants to make their health insurance work harder, especially as we head into the EOFY, Medibank has the edge.
However, just remember to compare both insurer's policy details before you commit. A bigger sign-up bonus doesn't pay off long term if the cover isn't right for you.
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