$20 billion Medical Research Future Fund
To help our doctors and health system find treatments and cures for health conditions such as: dementia; heart disease; cancer; and diabetes through medical research.
Every dollar of savings from health expenditure reforms in this Budget will be invested in a new, capital-protected, Medical Research Future Fund until it reaches $20 billion.
The Government's Budget health reforms are part of its Economic Action Strategy to build a strong, prosperous economy and a safe, secure Australia.
This Budget will take steps to put health spending growth on a sustainable path.
All Australians will need to make a greater contribution to the cost of their own health care. While continuing to support the most vulnerable in the community, government spending must be targeted to those most in need.
The reforms this Government is making will ensure all Australians will have access to world class health care and affordable medicines.
Patient contributions to health care
From 1 July 2015 previously bulk-billed patients can expect to contribute $7 towards the cost of standard GP consultations and out-of-hospital pathology and imaging services.
Concessional patients and children under 16 years will contribute $7 for the first 10 services each calendar year.
The Government will contribute approximately $38.90 for each service (based on a standard GP consultation and a Low Gap Incentive).
Medicare Safety Net
From 1 January 2016 a new Medicare Safety Net will simplify existing safety nets for out-of-hospital services whilst continuing to protect vulnerable patients. It will have lower thresholds for most people.