Cost of Pharmaceutical Drugs Increasing Next Month

Published April 3, 2013

The cost of pharmaceuticals is slated to increase next month when a  new law on drug payments takes effect, RÚV reports. The increased cost will fall on the consumer, which has Guðmundur Magnússon, chairman of the Organization of Disabled in Iceland, concerned.
In the new system the cost being paid out by the consumer decreases the longer the person requires a medication and picks up refills. So the cost to long-term medication users under the new system is actually less, over time, but is much more for those who require a one-time or short-term prescription.
The consumer will be expected to pay out the first 24,075 ISK in prescription costs themselves. Once the cost of a medication surpasses that amount then 85% of the cost will be subsidized. Once the cost of medication is above 96,300 ISK 92.5% of the cost is subsidized.
Guðmundur is concerned that the cost for those beginning to take a new drug will be prohibitively high for the average person. He notes that those requiring pharmaceuticals could apply for a drug rebate card, but that would still require the patient to put the money forward and then request a refund, which isn’t within the means of everybody.
If you have a certain medication you’re interested in learning the cost of under the new system, Lyfjaver offers an online calculator (Icelandic only).



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