The cost of living in Australia is high, very high. It is dubbed as one of the priciest nation in the world.

According to a recent study, the country exceeds the common genre of expenditures when it comes to expenses on prescribed drugs.

The study revealed that following payment of subsidies to the Australian Government, Australians wash out a bulky amount over prescribed medication. Statistics reveal that the expense has increased thrice ($62 an individual) in
2007, as compared to $19 in 1991.

The quantity further escalated to $134 counting prescription medications that are not subsidized by the regulations of the Australian Government, as part of the PBS (Pharmaceutical Benefits Scheme).

The study, carried out by researchers from the “University of Western Australia”, analyzed yearly out-of-pocket expenditures for nearly 14 OECD nations. The nations under scrutiny had a collective plan for pharmaceutical subsidies.

The researchers revealed that Australia stands at fourth ladder out of the 14 countries scanned under the study, with patients disbursing nearly $US84 annually over prescribed medications.

On the other hand, Finland was recorded carrying the utmost expenses at $US120, trailed by France ($US103), while Slovak Republic read an annual expense of $US95 over prescription medications.

But, for Canadians and Americans, where there is no concept of collective subsidy projects, the out-of-pocket expenditures were gliding way over $US262 and $US487, respectively.