How to get Cheaper Prescription Medicines

In the world of managing chronic illness, the cost of prescription medicines can often be a significant concern so the Pharmaceutical Benefits Scheme (PBS) can be a game-changer. At Adulting Well, we know the importance of financial stability, especially when it comes to keeping up with crucial medications. In this blog, we'll guide you through practical steps on how to access cheaper prescription medicines, focusing on navigating the Pharmaceutical Benefits Scheme (PBS) in Australia.

The PBS Lowdown

The Pharmaceutical Benefits Scheme (PBS) acts as a crucial intermediary, negotiating lower prices for a wide range of medications. This means that as a patient, you don't bear the full financial burden when obtaining essential medicines.

In the financial year 2020-21, the Australian government invested nearly $14 billion (yes, with a B) into running the PBS, offering Aussies a significant saving on their healthcare costs.

The PBS ‘Schedule’ is like the menu for subsidised medications in Australia. It's a list (a really long list) that spells out which prescription drugs the government is helping you out with, making them more affordable.

Think of it as a constantly updated catalogue where new medicines and treatments get added regularly. So, when your healthcare provider prescribes something, you can check the PBS Schedule to see if it's on the list, ensuring you get the financial support you need for your health journey. Easy peasy!

3 Things You Need to Know:

1. Prescription Only: The PBS only covers prescribed medications, it doesn't cover things like vitamins, supplements, or certain over-the-counter medicines. Knowing these limitations ensures you can plan accordingly for non-prescription health-related expenses.
2. Select Medicines Only: Not all medications qualify for PBS subsidies. Medications must be approved and listed on the PBS Schedule to be covered. Stay informed about updates to the Schedule, as new drugs and treatments are regularly included.
3. Co-payments: While the PBS reduces the cost of medications, you may still need to chip in to the cost out of your own pocket when picking up your prescription. Understanding co-payment amounts can help you budget effectively for your healthcare needs.

Checking PBS Eligibility

Discovering whether your prescribed medications are covered by the PBS is a straightforward process. Have a chat with your healthcare provider or pharmacist to discuss your prescribed medicines. Or, you can check out the official PBS website (Pharmaceutical Benefits Scheme (PBS) | A-Z medicine listing) and search the database, allowing you to determine if your medication falls under the PBS umbrella.

Patient Access Programs

If your prescribed medication isn't listed on the PBS, all hope is not lost. Patient Access Programs are designed to provide support for some medications not covered, making them more accessible. Connect with your healthcare provider or the pharmaceutical company to explore your eligibility and learn how to apply for these programs.

Wrapping up

At Adulting Well, we're all about making life smoother, especially when it comes to your health. This guide on saving big on your prescription meds through the PBS is your go-to playbook. Dive in, get the scoop, and take charge of your well-being without burning a hole in your wallet.

P.S.

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