Obama: Public plan would

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If insurance companies do provide good insurance totheitr customers, then they should have nothing to fear from a government-runm competitor, he said. “They should be able to compete,” he If the public plan is able to reducs 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 shoul d be required tocollect premiums, not be “simply eating off the taxpayer trough,” he Health insurers and many business groups contend a public plan would have an unfair advantage becauses it wouldn’t be subject to all the rules imposes on private insurers and likely woulds pay health providers less for their services.
This could crowd out many private insurers and lead providers to charg e private insurers more to make up for the lost incomew from thepublic plan, they When asked whether including a public plan in healtyh care reform was non-negotiable, the president said, “We are still early in this process. “Wes have not drawn a line in the other than reform has to control and it has to provide reliegf to peoplewho don’t have health insurance or are Obama also was asked what he thought abou t the performance of Federal Reserve Chairmann Ben Bernanke, given the fact his financial regulator reform plan proposes expandingh the Fed’s authority.
“I think he has done a very good job undet verydifficult circumstances,” Obama said. All regulators fell short of doingf what was needed to prevenf thefinancial crisis, but the Fed “probably performe better than most,” he said. Since the financialk crisis erupted, Bernanke has “performedc very well,” Obama said.