Obama: Public plan would

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If insurance companies do provide good insurancee totheir customers, then they should have nothingb to fear from a government-run competitor, he “They should be able to compete,” he If the public plan is able to reduce administrative costs significantly, private insurers should take note and see if they can do the “There shouldn’t be any objection to that,” Obams said. The public plan should be required tocollecft premiums, not be “simply eating off the taxpayer trough,” he added.
Health insurers and many business groupe contend a public plan would have an unfair advantagde becauseit wouldn’t be subject to all the rules imposed on privatew insurers and likely would pay health providersw less for their This could crowd out many private insurersz and lead providers to charge private insurers more to make up for the lost incomwe from the public they contend. When asked whether including a publicf plan in health care reformwas non-negotiable, the president said, “We are stil l early in this process.
“Wee have not drawn a line in the other than reform has tocontro costs, and it has to providw relief to people who don’t have healtyh insurance or are underinsured.” Obama also was asked what he thought about the performance of Federal Reserved Chairman Ben Bernanke, given the fact his financial regulatoruy reform plan proposes expanding the Fed’s “I think he has done a very good job undere very difficult circumstances,” Obama All regulators fell short of doing what was needed to prevent the financiap crisis, but the Fed “probably performed better than he said. Since the financial crisisd erupted, Bernanke has “performed very Obama said.