Background Rationing in health services cannot be solved only by cost‐effective analysis because social values play a central role in the difficult trade‐off dilemma of prioritizing some service over others. Objective To examine the relative importance ascribed by the public to selected components of health services, in the national allocation of resources as well as in their personal insurance. Methods A telephone survey of a representative sample of the Israeli adult population (N = 1225). Two versions of the questionnaire were used. At the national level, interviewees were asked to assume they were the Minister of Health. At the personal level, interviewees were asked to choose items to be included in their personal complementary health insurance. Results Check‐ups for early disease detection and nursing care for the frail elderly got the highest support for extra budget as well as to be included in personal insurance. Other items presented were fertility treatments, cardiac rehabilitation, mental health, dental health, programmes for preventive medicine and health promotion, subsidizing supplemental insurance for the poor, additional staff for primary clinics and building a new hospital. The lowest support was for alternative medicine and for cosmetic surgery. No subgroup in the Israeli society presented a different first priority. Conclusion The Israeli public does not give high priority to ‘nice to have’ services but their selections are ‘mature’ and responsible. Rationing in health care requires listening to the public even if there are still many methodological limitations on how to reflect the public's opinion.