The federal government is introducing legislation to reduce the cost of medicines covered by the Pharmaceutical Benefits Scheme.
The PBS lists and provides medicines at government-subsidised prices.
Under the new bill, the maximum general co-payment of scripts will go down from $42.50, to $30, with the changes to come into effect on January the 1st 2023.
Prime Minister Anthony Albanese says it will make many medicines cheaper for Australians.
"We'll be introducing into the parliament, legislation to ensure that measure can take place... By reducing the costs from $42.50 down to $30, this will make a real difference to families who are doing it tough. We recognise the cost of living pressures which are there."
It means a person who takes one medication a month could save up to $150 a year.
The could go up to as much as $300 to $450 a year for those on two to three medications.
Health Minister Mark Butler says millions of Australians will reap the benefits.
"We've been told by pharmacist after pharmacist of stories of patients coming to them with multiple scripts and asking for advice about which ones they really need today. And which ones they can go without. Often they'll be taking the script that provides them more immediate relief, for example, a pain medication, but going without a script that is important for their longer-term health. And that is just terrible for public health."
