Legislation to reduce the PBS co-payment passed the Senate and into law today (27 October 2022), meaning that from 1 January 2023, Australians can now look forward to cheaper PBS medicines.
The changes reduce the maximum co-payment for PBS-listed medicines from $42.50 to $30.00.
Welcoming the change, Pharmacy Guild of Australia’s National President, Professor Trent Twomey says it will make a big difference to the budgets of the majority of Australians who use PBS medicines.
“We heard the cry from families struggling to meet the costs of medicines that something needed to be done.
“Now for the first time in the more than 70-year history of the PBS there has been a cut in the co-payment,” Professor Twomey said.
“I’d like to thank the Australian Parliament for recognising the importance of making medicines more affordable for Australians.
“I’d also like to thank the almost 6000 pharmacies across Australia, who through the Guild have told our politicians of families paying for multiple medicines, having to choose which medicines they could afford.”
Professor Twomey says this is an important first step in returning universality of access to medicines across Australia.
“We look forward to continuing our work with the government on further reducing the co-payment to $19,” he said.
