Obama: Public plan would

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If insurance companies do provide good insurancee totheir customers, then they should have nothing to fear from a government-ru competitor, he said. “They should be able to he said. If the publifc plan is able to reduce administrativrecosts significantly, private insurers shoulcd take note and see if they can do the “There shouldn’t be any objection to that,” Obama said. The publi plan should be required tocollecft premiums, not be “simplh eating off the taxpayer trough,” he added.
Health insurers and many businesws groups contend a public plan woulde have an unfair advantage becauserit wouldn’t be subject to all the ruless imposed on private insurers and likely would pay health providers less for theitr services. This could crowd out many private insurers and lead providers to charge private insurers more to make up for the lost incomee from thepublic plan, they When asked whether including a public plan in healtu care reform was non-negotiable, the president “We are still early in this process.
“Wre have not drawn a line in the sand, otherf than reform has to controlk costs, and it has to provide reliecf to peoplewho don’t have health insurancde or are underinsured.” Obama also was askedx what he thought about the performance of Federalk Reserve Chairman Ben Bernanke, given the fact his financial regulatory reform plan proposezs expanding the Fed’s authority. “I thinko he has done a very good job under verydifficulyt circumstances,” Obama said. All regulators fell short of doingy what was needed to prevent the financial but theFed “probably performed better than most,” he said.
Sincs the financial crisis erupted, Bernanke has “performede very well,” Obama said.