Federal Budget : Government helping pensioners and Commonwealth Seniors Health card holders reduce cost of living pressures

10 May 2023

The big news for senior Territorians in regard to the Federal Budget is that the Government is helping pensioners and Commonwealth Seniors Health card holders to reduce cost of living pressures.  

(See more budget analysis by here)

These are many direct benefits that older Australians will receive in their wallets out of this years budget. Energy relief of up to $500 per year, cheaper medicines, $15 a week more rent assistance, $20 a week more in JobSeeker payments, an additional $46 more a week in JobSeeker if you’re 55years old or older battling ageism when looking for a job for more than 9 months.

Government is reforming Medicare to introduce improve access to bulk billing by tripling the incentive payment to GPs. This $4.9 billion investment will see more GPs bulk billing pensioners and healthcare card holders without charging a co-payment.

However, despite a historic $11.3B investment in aged care to fund a 15% wage increase for aged care workers, older people will have to wait until 1 July 2025 for a new rights based Aged Care Act and a single equitable nationally consistent home care program across the country system.  COTA Australia will be working with the announced Aged Care Taskforce as it turns its attention to the issue of how much Government will ask older people to pay for their aged care.