New figures released today show Australians have saved AUD 130 million in 2026 alone following the reduction of the general PBS co-payment from AUD 31.60 to AUD 25 on 1 January.
PGA says prescription prices are now at their lowest level in 20 years. Without the Government's intervention, the cost of a PBS script would be about AUD 50 today.
The savings could be short-lived. Unless further action is taken, the AUD 25 co-payment will begin increasing through indexation from 1 January 2027.
PGA National President Professor Trent Twomey said cheaper medicines continue to deliver meaningful cost-of-living relief for patients.
"Putting billions of dollars collectively back into Australians' pockets shows exactly the life-changing benefits cheaper medicines deliver," he said.
Extending the freeze until 2030 would mirror the existing arrangement for concession card holders, whose co-payment is already locked at AUD 7.70 until 2030.
Why it matters
- More than AUD 1.4 billion has been saved on PBS medicines since 2023.
- Australians have saved AUD 130 million in 2026 alone.
- The current maximum PBS co-payment is AUD 25.
- The Guild wants the AUD 25 cap frozen until 2030.
- Concession card holders already have their AUD 7.70 co-payment frozen until 2030.
The Guild is encouraging Australians to support its campaign by signing a new national petition calling on the Federal Government to keep the $25 co-payment in place until 2030, helping protect affordable access to medicines for patients and families across the country.
