When you were diagnosed with type 2 diabetes, you possibly started not only glucose-lowering medication but blood pressure and cholesterol medication. These medications are necessary to reduce your risk of the impacts of diabetes. It is common for a person living with diabetes to be taking five or more medications.

Here are some tips to help you save some money.

Tip 1: Make every prescription count towards your safety net.

The Pharmaceutical Benefits Scheme (PBS) safety net scheme is similar to your Medicare safety net scheme. Most of the cost of your prescriptions can be added under the safety net in a calendar year to give you a discounted or free number of prescriptions until the end of the year if you have reached the threshold. The scheme financially protects people and families requiring many PBS prescription items. For the scheme, the family includes the person:

• their partner or de facto partner
• children under the age of 16 who are in the care and control of the person
• dependent full-time students under the age of 25.

The thresholds to receive discounted/ free prescriptions at the time of this article are:

• $277.20 for anyone receiving a concessional amount. This equates to 36 prescriptions at $7.70 or 43 prescriptions if you are paying $6.70
• $1,647.90 for all other non-concessional clients. The highest price you will pay for a medication that PBS covers is $31.60. (1)

What you need to know is:

• Not all prescriptions will be charged at the highest amount; therefore, only the amount charged will be recorded. Your price may be slightly higher than what is recorded on your safety net.
• PBS prescriptions can be obtained from almost any pharmacy and hospital. There is no electronic link between pharmacies to collect your safety net records. You may regularly go to the same pharmacy; however, if you have a hospital stay or go on holiday, collect your safety net records when you collect your prescriptions and let your regular pharmacy know. External records can be included in your pharmacy’s tally, and you will get to your safety net sooner.
• Private prescriptions do not count towards this safety net.

Tip 2: Take the generic options

Generic doesn’t relate to the quality of the medication. Medications with the same ingredient at the same dose that release the active ingredient in the same manner as the original brand are called generic options. The companies that produce generic options must release safety and efficacy information to an Australian regulatory department, the Therapeutic Goods Administration (TGA). The TGA is responsible for ensuring the safety of food, medications and medical devices in Australia. You can save with generic options for over-the-counter medicines such as paracetamol, for example, Panadol vs Panamax. (2)

The generic options are usually less expensive than the original brand. Here is an example:

• Diabex extended release 1000mg costs you $22.66 (concession $12.95). Diaformin XR 1000mg costs you $17.41 (concession $7.70). Alphapharm supplies both of these brands; they have the same action, strength of active ingredients and quantity of tablets. Both have the same amount recorded towards your safety net.

Note, you may not wish to take the generic option if:

• You are allergic or intolerant to any of the filler ingredients that are commonly found in medications
• You are taking a medication that must be tightly controlled – ask your doctor about this
• You get confused about active ingredients or generics
• You want to support the company that provided the research and development of your original medication brand.

Tip 3: 60-day dispensing

On 4 March 2024 the Australian Government announced it was adding an additional 94 medicines to the list of medicines available on 60-days supply for the cost of a single script. Among those were Forxiga and Metformin. Some blood pressure and cholesterol-lowering medications can also be prescribed as a 60-day supply. The savings are that you pay once every two months rather than every month for it to be supplied. Your GP can prescribe up to one year’s worth of medication.

An example is that one month’s supply of Ramipril 10mg is likely to cost $21.60, whereas two month’s supply is $25.36.

• Yearly cost of Ramipril daily 12 x 30-day supply =$259.20. Concs $92.40
• Yearly cost of Ramipril with 6 x 60-day supply = $152.16. Concs $184.80.

With a 60-day supply you will take longer to reach a safety net total. You often pay less now and more later in the year. Ensure you are still getting the same quantity of care if you choose 60-day dispensing.

Tip 4: Shop around

If your regular pharmacy is a lot more expensive, you could ask to match the price of other pharmacies, or meet in the middle with the cost. You are allowing your pharmacy to retain you as a loyal client.

If you are in a location where there are no competitive pharmacies, you could opt to have your medications posted to you. You will have to factor in postage costs; however, if your doctor allows you to receive multiple supplies and your medications are suitable, postal mail order is an option. Medications that cannot be supplied in this manner include any drugs of dependence and refrigerated items.

If you live rurally, think about getting your medications when you go to the nearest larger town to shop.

By Donna Itzstein, Pharmacist and Credentialled Diabetes Educator

References

1. Australian Government, Department of Health and Aged Care. About the PBS. The Pharmaceutical Benefits Scheme. [Online] July 1st, 2022. [Cited: February 12th 2024] https://www.pbs.gov.au/info/about-the-pbs.

2. OTC generic and originator brands. Therapeutic Goods Administration. [Online] August 31st, 2020. [Cited: February 12th 2024] https://www.tga.gov.au/news/news/generic-prescription-medicines-fact-sheet.