PBS prescriptions frozen at $7.70 for pensioners until 2030
Pensioners and concession cardholders will see no rise in the cost of their Pharmaceutical Benefits Scheme (PBS) medicines for the rest of the decade, with the Australian Government locking in a price freeze at $7.70 per prescription until 2030.
New legislation introduced to Parliament this week also means that, from 1 January 2026, the maximum price for a general PBS prescription will be capped at $25 – the lowest cost in more than 20 years.
“Having already slashed the cost of medicines – with the largest cut in the history of the PBS in 2023 – we’re now going even further,” said Health and Ageing Minister Mark Butler.
“This is a more than 20 per cent cut in the maximum cost of PBS medicines, which will save Australians over $200 million each year.”
How the Government has reduced medicine costs
The price freeze builds on several major PBS reforms over the past few years, including:
· July 2022: A 25% reduction in the number of concessional scripts needed to reach the PBS Safety Net.
· January 2023: The largest PBS price cut in history, with the general script price dropping from $42.50 to $30.
· September 2023: Introduction of 60-day prescriptions, saving time and money for Australians with chronic health conditions.
· January 2025: Freezing PBS co-payments for all Australians, stopping automatic increases with inflation for the first time in 25 years.
