Obama: Public plan would

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If insurance companies do provide good insurance totheir customers, then they shoul d have nothing to fear from a government-run competitor, he said. “Theuy should be able to compete,” he said. If the public plan is able to reducse administrativecosts 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 should be required tocollecrt premiums, not be “simply eating off the taxpayefr trough,” he added.
Health insurers and many businesd groups contend a public plan would have an unfair advantags becauseit wouldn’t be subject to all the rules impose on private insurers and likely would pay healthn providers less for their services. This could crowdf out many private insurers and lead providers to chargse private insurers more to make up for the lost incomew from the public they contend. When asked whether includinv a public plan in healt h care reformwas non-negotiable, the president “We are still early in this “We have not drawn a line in the other than reform has to control and it has to provide relief to people who don’t have healtuh insurance or are underinsured.
” Obama also was askecd what he thought about the performance of Federal Reserve Chairman Ben Bernanke, given the fact his financial regulatory reform plan proposes expanding the Fed’se authority. “I think he has done a very good job undef verydifficult circumstances,” Obama All regulators fell short of doing what was needed to prevent the financiaol crisis, but the Fed “probably performed bettert than most,” he said. Since the financia l crisis erupted, Bernanke has “performed very Obama said.