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Are you required to have 110,000 points in your account to get a companion pass? Or can you have earned and used some or all the 110,000 points and still get the pass?
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"To qualify, simply fly 100 qualifying one-way flights or earn 110,000 qualifying points in a calendar year, and you’ll earn Companion Pass..."
Source: https://www.southwest.com/rapidrewards/tiers-more-companion-pass?clk=SITESEARCH
Customer | Home airport DCA
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As @SWDigits said, just the earning part. Feel free to redeem as necessary. (Note that any flight you redeem for yourself won't earn additional points.)
You'll see these referred to as "Rapid Reward points" for redeeming purposes an includes points from many sources, and including bonuses.
"Tier Qualifying Points" are tallied separately, not including some sources and bonuses and are separate from your general Rapid Reward Points balance applying to companion pass and A-list. The A-list points are more restrictive (largely flights only with a few exceptions) than companion pass qualifying (includes credit card and partner points).