Residents saving on medicines

Gold Coast residents have saved almost $2 million from the Federal Government’s plan to make medicines cheaper, new data reveals.

Research shows in the first three months of the Government’s Cheaper Medicines policy, residents in the five Coast electorates saved $1,892,745 on almost 170,000 cheaper scripts.

The Albanese Government cut prescription costs for general consumers from $42 to $30 a script, on January 1, to honour an election promise.

The biggest winners have been in the central Coast suburbs in Moncrieff where there has been savings of $597,510.

Fadden in the city’s north saw savings of $395,799, and patients in the southern suburbs of McPherson spent almost $359,000 less on medicines.

Thousands of residents continue to struggle to meet medical costs as bulk billing is reduced.

Patients last October saw the price of nearly 900 prescription medicines rise under a deal struck with the generic medicines industry to overcome drug shortages.

But the new federal scheme means Queenslanders will pay a maximum of $30 per script on the Pharmaceutical Benefits Scheme (PBS), down from $42.50.

Gold Coast-based Senator Murray Watt welcomed the timing of the price cut.

“We understand that cost of living is tough, which is why since being elected the Albanese Government has been focused on making costs more affordable where we can – like cheaper electricity, cheaper childcare, and of course cheaper medicines,” he said.

“The Albanese Government knows how important a strong, local healthcare system is and already we’ve delivered on our promise to make medicines cheaper.”