This budget is all about the looming federal election. To many, the 2025 budget appeared modest because most of the big spending cost-of-living relief and health initiatives had already been announced in an attempt to woo voters in time for an earlier election.
Here are budget items of interest to older Australians.
Bulk billing: As previously announced, $8.5 billion is budgeted over four years to boost bulk billing at GP clinics. The aim is for nine out of 10 doctor visits to be free by 2030. The Coalition pledged to match it when it was first announced.
Medicines and prescriptions: The cost of Pharmaceutical Benefits Scheme (PBS) medicines for pensioners and concession cardholders will be frozen at their current level of $7.70 until 2030. For others, the maximum price of medications under the PBS will be capped at $25, down from $31.60. This change would take effect from 1 January 2026 if the government is re-elected. The Coalition has also promised to match this.
Urgent Care Clinics: 50 new bulking billing Medicare Urgent Care Clinics around Australia to open during the 2025-26 financial year - allowing four in five Australians a 20-minute drive to a clinic, according to the Department of Health and Aged Care.
Medicare levy threshold: Raising the Medicare levy income thresholds, will mean more low-income earners and some pensioners will be exempt from paying the Medicare levy. The thresholds will increase by 4.7% with the levy now kicking in for single seniors and pensioners at an income level of $43,020 (up from $41,089) and for family seniors and pensioners at $59,886 (up from $57,198).
Private health insurance: While there is a strong focus on the public health system, National Seniors Australia (NSA) is disappointed there was no funding to establish a Productivity Commission inquiry to address rising premiums and out-of-pocket health costs in the private health system.
