Why did my medication cost go up?

They have to stay within a certain range determined by the type of medicine it is and agreements they have with your particular health insurance plan. Manufacturing shortages and supply issues can also affect medicine prices – just like oil prices.

How much does the PBS cost Australia?

From 1 January 2021, you may pay up to $41.30 for most PBS medicines or $6.60 if you have a concession card. The Australian Government pays the remaining cost.

Is the PBS fully funded by the Commonwealth Government?

The Pharmaceutical Benefits Scheme (PBS) is an Australian Government program that benefits you and all Australians by subsidising medicines to make them more affordable. This means you can get access to lifesaving medicines when you need them most. The PBS is governed by the National Health Act 1953.

What is the maximum cost of a medication that is on the PBS?

Under the PBS, the maximum cost for a pharmaceutical benefit item at a pharmacy is $41.30 for general patients and $6.60 for concession card holders, plus any applicable special patient contribution, brand premium or therapeutic group premium.

What is the PBS limit?

The 2021 PBS Safety Net threshold is: $316.80 for concession card holders. $1,497.20 for general patients.

Is the PBS part of Medicare?

The Pharmaceutical Benefits Scheme (PBS), along with Medicare, is a key component of Australia’s health system. The PBS provides access to necessary and lifesaving medicines at an affordable price.

Are medications free in Australia?

Under the PBS, the Australian Government subsidises the cost of medicine for most medical conditions. This means Australians can use a wide range of medicines without paying full price for them. To buy PBS medicines from a pharmacist, you’ll need a doctor’s prescription.

Which countries regulate drug prices?

Four European countries that have research-based pharmaceutical industries—France, Germany, Sweden, and the United Kingdom—have each developed a set of government controls to limit the growth of prescription drug prices and expenditures.