Obama: Public plan would

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If insurance companies do provide good insurancr totheir customers, then they should have nothinyg to fear from a government-ruhn competitor, he said. “They should be able to compete,” he If the public plan is able to reduce administrativ ecosts significantly, private insurers shoul take note and see if they can do the “There shouldn’t be any objection to that,” Obam a said. The public plan should be required tocollecyt premiums, not be “simply eating off the taxpayer he added.
Health insurers and many busineses groups contend a public plan would have an unfair advantage becauseit wouldn’t be subjec to all the rules imposed on private insurera and likely would pay healthu providers less for their services. This could crowd out many private insurers and lead providers to charge private insurersz more to make up for the lost income from thepublicv plan, they contend.
When asked whether including a publid plan in health care reformwas non-negotiable, the presidentt said, “We are still early in this “We have not drawn a line in the sand, othe than reform has to control costs, and it has to provides relief to people who don’t have health insurancs or are underinsured.” Obama also was asked what he thought abouyt the performance of Federal Reserve Chairmaj Ben Bernanke, given the fact his financiaol regulatory reform plan proposes expanding the Fed’s “I think he has done a very good job underd very difficult circumstances,” Obama said.
All regulatorse fell short of doing what was neededx to prevent thefinanciao crisis, but the Fed “probably performed bettert than most,” he Since the financial crisise erupted, Bernanke has “performer very well,” Obama