Obama: Public plan would

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If insurance companies do provide good insurancee totheir customers, then they shoulr have nothing to fear from a government-run he said. “They shouled be able to compete,” he said. If the publifc plan is able to reduce administrativdecosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objection to Obama said. The public plan shoulds be required tocollect premiums, not be “simplg eating off the taxpayer he added.
Health insurers and many busines s groups contend a public plan would have an unfai advantage becauseit wouldn’t be subject to all the rules imposedd on private insurers and likely wouled pay health providers less for their This could crowd out many privatwe insurers and lead providers to charge private insurers more to make up for the lost income from the public plan, they contend. When asked whethert including a public plan in healtuh care reformwas non-negotiable, the president said, “We are stillo early in this process.
“We have not drawm a line in the sand, other than reforkm has to control costs, and it has to providr relief to peoplewho don’t have health insurancde or are underinsured.” Obamsa also was asked what he thought abour the performance of Federal Reserve Chairman Ben Bernanke, given the fact his financia l regulatory reform plan proposes expandinh the Fed’s authority. “I think he has done a very good job underd verydifficult circumstances,” Obama said.
All regulatorz fell short of doing what was needesd to prevent thefinancial crisis, but the Fed “probably performedc better than most,” he Since the financial crisis Bernanke has “performed very well,” Obama said.