PBS co-payment to drop on 1 January

FEDERAL member for Bendigo Lisa Chesters visited Terry White Chemmart Pharmacy in White Hills last week to speak about legislation introduced to Parliament that will mean a prescription on the Pharmaceutical Benefits Scheme (PBS) will cost no more than $25 from 1 January next year.

This represents an over 20 per cent cut in the maximum cost of PBS medicines, which is expected to save Australians over $200 million each year.

Pensioners and concession cardholders will also continue to benefit from the freeze to the cost of their PBS medicines at its current level of $7.70 until 2030.

The announcement builds on action the Federal Government has already taken to deliver cost of living relief through cheaper medicines, including a 25 per cent reduction in the number of scripts a concessional patient must fill before the PBS Safety Net kicks in (July 2022).

Ms Chesters said the effect on Bendigo residents has been massive.

“Our community has already saved almost $9 million on cheaper medicines, and under the Labor Government they will save even more,” she said.

Meanwhile, the Pharmacy Guild of Australia’s Victorian Branch vice president Kin Chong said as a community pharmacist he witnesses every day how rising costs are affecting patients.

“That’s why I strongly welcome the recent announcement to reduce the PBS co-payment,” he said.

“This is a meaningful step toward easing the burden on hardworking Australians during a difficult cost-of-living period.

“This announcement reflects progress in the right direction. It’s a win for our patients.”