Posted by Michael Wonder on 31 Jan 2018
Health policy reform not helped by Bill Shorten
31 January 2018 - It is noteworthy that shares in Medibank Private hit a record high the day after Opposition Leader Bill Shorten attacked the private health insurance industry for allegedly earning excessive profits, holding too much capital and ripping off customers with too many policy exclusions.
Shorten also attacked federal Health Minister Greg Hunt for allowing Medibank Private to increase its premiums in 2018 by an average of 3.88 per cent, which is the lowest rate of increase in 17 years and below the industry average.
Sometimes it is almost impossible to unravel the mysteries of the sharemarket and ascertain why certain stock prices have moved up or down. But one way to think about the positive Medibank share price change is that the market totally ignored Shorten or read what he said and realised it was too shallow to take seriously.
