Dr Voss Gibson•
Cheaper Medicines in 2026: Exactly What You Pay and 6 Ways to Pay Less
From 1 January 2026, the maximum you'll pay for a PBS prescription medicine dropped from $31.60 to $25 — the lowest price Australians have paid since 2004. If you hold a concession card, you'll continue to pay a maximum of $7.70, frozen until 2030. But the co-payment is only one of several levers, and most people are leaving money on the table by not knowing the others. This guide sets out exactly what medicines cost in 2026 and six practical ways to reduce your prescription bill — including one change that quietly saves hundreds of dollars a year.
What a PBS Prescription Costs in 2026
Here's the headline, straight from the Pharmaceutical Benefits Scheme:
- General patients (anyone with a Medicare card, no concession card): a maximum of $25.00 per prescription — reduced from $31.60
- Concession card holders (pensioners, Health Care Card, Commonwealth Seniors Health Card, DVA card holders): a maximum of $7.70 per prescription, frozen at this rate until 2030
- Aboriginal and Torres Strait Islander people registered in the Closing the Gap program: prescriptions are usually free if you hold a concession card, or $7.70 if you don't
Two important nuances. That $25 is a maximum, not a flat fee — if a medicine's actual cost is below the co-payment, you pay the lower amount. And the general co-payment will be indexed to inflation from January 2027, so this year's figure is a genuine low point.
The 6 Ways to Actually Pay Less
| Saving lever | Who it's for | Potential saving |
|---|---|---|
| Saving lever:60-day prescriptions | Who it's for:Stable, ongoing conditions | Potential saving:Up to $150/year per medicine (general); $46.20 (concession) |
| Saving lever:Choose generics | Who it's for:Anyone paying a brand premium | Potential saving:Varies — sometimes substantial |
| Saving lever:PBS Safety Net | Who it's for:Households with many scripts | Potential saving:Reduced or free medicines once you hit the threshold |
| Saving lever:Concession eligibility | Who it's for:Low income, seniors, veterans | Potential saving:$25 → $7.70 per script |
| Saving lever:Shop around | Who it's for:Everyone | Potential saving:Prices vary between pharmacies |
| Saving lever:Efficient prescribing | Who it's for:Anyone on regular medication | Potential saving:Fewer consults, fewer dispensing fees |
1. Ask about 60-day prescriptions
This is the single biggest lever most people haven't pulled. Since September 2023, people with stable, ongoing conditions can receive a 60-day supply of many PBS medicines on a single prescription instead of 30 days. You get twice the medicine for one co-payment.
The savings are concrete: up to $150 a year per medicine for general patients, and $46.20 a year per medicine for concession card holders. If you take three regular medicines, that adds up quickly — plus half the trips to the pharmacy.
Not every medicine is eligible, and it requires your doctor to write a 60-day prescription. So the action is simple: ask your GP whether any of your regular medicines qualify. It's a two-minute conversation that can save hundreds of dollars a year.
2. Choose the generic and skip the brand premium
Some brand-name medicines carry a brand premium — an extra amount the manufacturer charges on top of the co-payment. Here's the sting most people don't know: brand premiums don't count toward your PBS Safety Net. You're paying extra and it doesn't get you closer to cheaper medicines.
A generic medicine contains the same active ingredient. It may look different or use different fillers, but it does the same job. Ask your pharmacist whether a generic alternative exists for anything you take regularly — it's often pure saving for no clinical difference.
3. Know your Safety Net
If you or your family fill a lot of prescriptions, the PBS Safety Net protects you. In 2026 the thresholds are:
- $1,748.20 for general patients
- $277.20 for concession card holders
Once you reach it, general patients pay the concessional rate of $7.70 for the rest of the calendar year, and concession card holders get their PBS medicines free. Three things worth knowing: the Safety Net resets every January; families can combine their amounts to reach the threshold sooner; and you need to apply for a Safety Net card once you qualify — it isn't automatic. Your regular pharmacy tracks the scripts they dispense for you, so using one pharmacy consistently makes this easier.
4. Check your concession eligibility
The gap between $25 and $7.70 per script is significant. If your circumstances have changed — retirement, reduced income, a new health condition — it's worth checking with Services Australia whether you now qualify for a Health Care Card, Pensioner Concession Card or Commonwealth Seniors Health Card. Many people are eligible and don't realise it.
5. Shop around
Prescription prices genuinely vary between pharmacies. Pharmacists have some discretion in what they charge, so it's worth asking about the cost of your medicines, comparing a couple of nearby pharmacies, and checking online options. For medicines priced under the co-payment, the difference can be real.
6. Don't pay for consults you don't need
Every unnecessary GP visit is a cost. Make sure you're using your repeats efficiently, and ask your doctor about eScripts, which make managing repeat prescriptions simpler. If you take a higher-than-standard dose, your doctor can sometimes write an Authority Prescription for an increased quantity, meaning you pay dispensing costs less often. And if you live remotely or are travelling, ask about having repeats dispensed together.
The Catch Nobody Mentions: You Might Not Reach the Safety Net Anymore
Here's an insight that catches people out. Because the co-payment fell to $25 and 60-day prescriptions halve how often you pay, you may now reach the PBS Safety Net later in the year — or not at all.
If you're used to hitting the threshold each September and enjoying cheaper medicines afterward, that pattern may change. It can feel like a loss. It isn't. You're reaching the Safety Net later precisely because you're spending less across the year. The overall outcome is still money in your pocket — just distributed differently. Worth knowing so it doesn't come as a surprise.
Are You Eligible for 60-Day Prescriptions?
Broadly, 60-day prescriptions are available for a range of PBS medicines for people with stable, ongoing conditions — think managed conditions where your dose hasn't been changing. Your doctor decides clinical suitability and must write the prescription accordingly.
Two practical steps: check whether your regular medicines are on the eligible list, and raise it at your next appointment.
A Quick Word on Non-PBS and Private Scripts
Being straight with you: not every medicine is subsidised. The PBS covers more than 900 medicines, but if yours isn't listed — or is prescribed outside its subsidised indication — you'll pay the private price, which sits entirely outside the $25 cap and can be considerably higher. Brand premiums and special patient contributions also sit on top of the co-payment.
If a medicine is costing you more than you expect, ask your pharmacist to explain the breakdown. Sometimes there's a PBS-listed or generic alternative worth discussing with your doctor. And please — never substitute an expensive prescription with something bought from an unregulated overseas website.
