I read in forums of our newspaper with interest after our National Day Rally. During our rally, there was an announcement that there will be a launch of Medishield Life and all will be included including people with pre existing conditions. Much has been written on forums with some calling for government to standardise the price for a private integrated shield plan.. but I am dead against that.
Where will be the competition if that happens? How will we know companies are pricing their plan at the most affordable price for us? Wouldn't that be anti competitive? So if all companies is suppose to come up with a plan that is priced the same then if they were to collude and price it high so all makes a tidy margin, will that not be detrimental to you as a consumer? Banks have been brought to task for fixing Libor rates in London, and some banks here too.
Once again, the choice is yours to go find out who has the cheapest plan in the market. Why should the governent do it? If they are suppose to fix prices then why not fix prices for hawker food.. televisions.. property prices.. utilities (oops they are already doing that).. everything that concerns us more on a daily basis.
Price fixing only benefits the companies and not you as a consumer. There are anti competition laws for a reason.
This post dedicated to Chris Chan, great question!
