For the first time in its 75-year history, the maximum cost of general scripts under the Pharmaceutical Benefits Scheme (PBS) will fall.
Under a Bill tabled by the Australian Government on the 7 September 2022, from 1 January 2023 millions of Australians will pay almost 30 per cent less for PBS scripts, with the maximum general co-payment dropping from $42.50 to $30.
This means that someone taking one medication a month could save as much as $150 every year, or for two or three medications as much as $300-$450 a year.
The maximum cost to general patients for PBS medications has doubled since 2000. This change fulfils the Government’s election promise to cut the cost of medicines and ease cost of living pressures for Australians.
“I’m thrilled that we’re introducing this legislation to make many medicines cheaper for all Australians, it is part of the Albanese Government’s plan to ease the cost-of-living pressures left by the former government”, Madeleine King said.