Euro exchange rate change lowers prescription drug copayments and prices by 5.37%

Price drop to start on June 15, Health Ministry announces.

By JUDY SIEGEL-ITZKOVICH
Pills (photo credit: INGIMAGE / ASAP)
Pills
(photo credit: INGIMAGE / ASAP)
The price of most prescription drugs will drop 5.37 percent beginning June 15 because the euro has weakened versus the shekel over the last six months, the Health Ministry said on Monday.
After consulting with the joint Finance and Health ministries’ prices committee, it was decided that the reduction would not include drugs priced below NIS 16 (including VAT) and that the change would be delayed from June 1 to June 15 to allow pharmacies and the health funds adjust for the cut.
Prescription drugs that are included in the basket of health services paid for by the health funds will be provided by the pharmacy with a co-payment that is 5.37% less than before because the self-participation is calculated according to a percentage of the actual price of the medication. Drugs that are not in the basket will be 5.37% cheaper to purchase.
“Part of the social policy is to protect patients who need prescription drugs. There is still room for an additional cut in the cost of drugs, and we are working toward this,” said Deputy Health Minister Ya’acov Litzman.