The Pharmaceutical Benefits Scheme, otherwise known as the PBS, enables Australians to have access to more than 900 subsidised prescriptions for a range of health conditions. This program ensures that everyone has affordable and timely access to medicine. When you buy a medicine that's listed on the PBS, the amount you pay is called the PBS patient co-payment. Some PBS medicines will cost more because they have a brand premium, while others will cost less.
Anybody with a Medicare card can access medications on the PBS. If you have a Commonwealth Concession Card, you can access these medications at a concessional rate. The maximum out-of-pocket co-payment has been reduced from $31.60 to $25. This means that you don't have to pay more than $25 for PBS listed medications. The maximum co-payment for concession rate has been frozen to $7.70. And while that normally goes up with inflation, it's going to stay frozen until 2030. The PBS patient co-payment has been lowered to $25 to make medications more affordable. So if you were paying $31.60, you now save $6.60 per prescription. So you don't need to wait to fill your prescription.
The Concessional Card rate has been frozen to help families and individuals plan their medication costs because the rate is going to stay the same until 2030. If your PBS medication costs less than $25, the price will stay the same. The price of medicine could still vary from one pharmacy to another depending on where you go. And if you are not sure, you can always ask your pharmacist about the cost price of PBS medication. Some medication suppliers do charge extra for their medications, and this is called a brand price premium. Chat to your local pharmacist about other alternate brands that don't have this brand price premium. These are known as generic medications. The PBS subsidy will be applied automatically. You don't need to do anything else. Ask your pharmacist to help you keep track on how much you spend on PBS Medicine. Individuals and families that spend a lot of money on PBS medications may be eligible for a Safety Net Card, which makes medicines even cheaper or free. For more information, visit the health website.