Labor to Slash Cost of Medications for Millions of Australians

Labor Party

Millions of Australians will save $12.50 on medical scripts under an Albanese Labor Government, with a commitment to slash the cost of common medications.

Labor will reduce the maximum co-payment under the Pharmaceutical Benefits Scheme (PBS) from $42.50 to a maximum of $30, a reduction of 29 per cent.

Under Labor’s proposal a person taking one medication a month could save $150 a year, with those taking two medications a month saving up to $300 each year.

The changes to the PBS will take effect from the 1st of January 2023 and will save Australians more than $190 million in out-of-pocket costs.

The existing safety net provisions will continue and all scripts currently counting towards a patient’s safety net will continue to do so.

An Albanese Labor Government will ensure Australians have access to affordable medicines by listing every drug recommended by the independent experts on the PBS.

The PBS is designed to keep medications affordable for Australians. The PBS and Medicare are the foundation stones of our health care system.

An Albanese Labor Government will strengthen Medicare and the PBS.

Quotes attributable to Anthony Albanese:

“Cost of living pressures are real. Everything is going up under the Morrison Government. These changes to the PBS are necessary because we need to make sure that Australians can afford the medications they need.”

Quotes attributable to Mark Butler:

“We know out-of-pocket health care costs are too high in Australia and among the highest in the OECD countries. Cutting the cost of medications will help millions of Australians. Our changes to the PBS mean that the trip to the chemist won’t be an expensive one.”

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