The legislation will see millions of Australians pay 29 per cent less for scripts, with the maximum general co-payment dropping from $42.50 to $30, has passed into law.
Someone taking one medication a month could save as much as $150 every year, or a family taking two or three medications could save as much as $300-$450 a year.
The maximum cost to general patients for PBS medications has doubled since 2000.
We’re making medicines cheaper for Australians. The safety net threshold for pensioners and concession card holders was slashed in July by 25 per cent, meaning across the year millions of Australians will now pay no more than $4.70 every week for all of their medicines needs.
And more than 44,000 additional Commonwealth Seniors Health Card holders will get access to concession rate prescriptions with income limits being raised to $90,000 for singles and $144,000 for couples.
This change fulfils the Government’s election promise to deliver cheaper medicines and ease cost of living pressures for Australians.
Quotes attributable to Member for Bendigo, Lisa Chesters
“Pharmacists tell me stories of their customers coming in with a handful of prescriptions asking for advice about which script they can go without, because they can't afford to fill them all.
“Our delivery of cheaper medicines will make that choice redundant for millions of Australians.
“It’s no secret that times are tough for many across the region, cheaper medicines is one way the Australian Government is improving the cost of living crisis.
“Central Victorians should not have to make the choice between paying for prescription medicine or putting food on the table.”