Cost of prescription meds to be slashed
From the beginning of 2023, the price of prescription medications will be slashed in a new cost-of-living measure by the federal government.
Australians' co-payment for scripts under the Pharmaceutical Benefits Scheme (PBS) will be capped at $30 as opposed to the current maximum co-payment of $42.50.
That will save people who have multiple regular medications hundreds of dollars each year.
The measure will also help prevent people having to decide between spending their money on medicines or other essentials.
Measures won’t come into effect until January 1, with the Albanese government tabling the bill in parliament on Wednesday.
Health Minister Mark Butler said almost a million Australians delayed or avoided filling prescriptions, citing recent research.
“This change will put close to $200 million back in the pockets of Australians each year."
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