Young Oak Kim: “The gentleman is right. As long as we have a third-party paying system, without somebody watching so to speak, we will…”

“The gentleman is right. As long as we have a third-party paying system, without somebody watching so to speak, we will continue to have this kind of abuse and fraud. Right now, the Government pays it without truly looking at it closely. That is what has happened. That is why I like the concept of the Republican plan to set up a Medisave concept. So you have a choice. Any savings you got by transferring your plan to a private plan without costing you a penny, whatever savings you can generate out of that, you can put the money into a tax free Medisave account and after that you can do whatever you want to do. It is your money to spend, which gives senior citizens incentives in trying to look at the cost. Right now nobody cares. Nobody asks how much it costs me having this operation. Nobody even shops around. This will give us some incentive to shop around so that I can get a better treatment and cheaper, so to speak. I think it is an incentive rather than some kind of additional regulation. I like the concept, and I think it is an excellent concept.”