Government continues to make medicines cheaper

The Albanese Government is making cheaper medicines even cheaper – with laws being launched to Parliament this week that can imply a prescription on the Pharmaceutical Benefits Scheme (PBS) will price Australians not more than $25 from 1 January subsequent yr.

The final time PBS medicines price not more than $25 was 2004 – greater than 20 years in the past.

This is one other key price of residing measure delivered by the Albanese Government.

Having already slashed the price of medicines – with the biggest reduce to the price of medicines within the historical past of the PBS in 2023 – we’re now going even additional.

This is a greater than 20 per cent reduce within the most price of PBS medicines, which can save Australians over $200 million every year.

Making medicines cheaper is a tangible method we’re serving to with the price of residing.

Pensioners and concession cardholders will proceed to profit from the freeze to the price of their PBS medicines, with the fee frozen at its present degree of $7.70 till 2030.

This builds on motion we’ve already taken to ship price of residing reduction by way of Cheaper Medicines, together with: 

• More free and cheaper medicines, sooner, with a 25 per cent discount within the variety of scripts a concessional affected person should fill earlier than the PBS Safety Net kicks in – (July 2022)
• The largest reduce to the price of medicines within the historical past of the PBS, with the utmost price of a normal script falling to $30, from $42.50 –  (January 2023)
• 60-day prescriptions saving money and time for thousands and thousands of Australians with an ongoing well being situation – (Three phases from September 2023)
• Freezing the price of PBS medicines, with co-payments not rising with inflation for all Australians for the primary time in 25 years – (January 2025)

All medicines that pharmacies can low cost immediately can proceed to be discounted as soon as the co-payment is reduce to $25. The laws contains particular provisions to guard the supply of discounting.

Quotes attributable to Prime Minister Anthony Albanese

“We said we would make cheaper medicines even cheaper – that is exactly what we are doing.

“This is another example of cost of living relief that helps every Australian.

“The size of your bank balance shouldn’t determine the quality of your healthcare. My Government will continue to deliver cost of living relief for all Australians.”

Quotes attributable to Minister Mark Butler

“The Albanese Government has been focused on delivering cheaper medicines for Australians.

“Cheaper medicines are good for the hip pocket and good for your health.

“For general patients medicines haven’t been this cheap since 2004.

“For pension and concession card holders we’ve frozen your medicine prices at a maximum price of $7.70 until the end of the decade.”