Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank both the opposition and the Greens for their preliminary indication that they are supporting this legislation.

The bill gives more self-funded retirees access to the Commonwealth Seniors Health Card, easing some of the cost-of-living pressures they currently face. The Commonwealth Seniors Health Card is available to Australians who have reached aged-pension age and are ineligible for income support payment due to their income and/or assets. Account holders gain access to Commonwealth health concessions, including concessional co-payments for Pharmaceutical Benefit Scheme medicines and concessional thresholds for the Pharmaceutical Benefit Scheme safety net and the extended Medicare safety net. State and territory governments and some private entities may offer additional concessions at their own discretion.

The income limit for a person who is single will increase from the current $61,284 to a new limit of $98,054. This single income limit also applies to a person who is a member of an illness separated couple, a member of a respite care couple or a member of a couple whose partner is in jail.

The income limit for each member of a couple will increase from the current $49,027 to a new limit of $72,000. This means the Commonwealth seniors health card income limit for a couple will increase to $144,000 of combined income.

This bill was due to commence on 20 September 2022. However, due to the suspension of parliament following the death of Her Majesty Queen Elizabeth II the bill could not be passed in time for the increase to be implemented on 20 September 2022, as was originally intended. As a result, the government will move amendments to allow the increase to the income limits to take effect seven days following the royal assent to the bill.

The Albanese government is committed, as we know, to easing cost-of-living pressures. This bill is a practical example that will support older Australians.

Question agreed to.

Bill read a second time.