Obama: Public plan would

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If insurance companies do provide good insurance totheire customers, then they shoul d have nothing to fear from a government-run he said. “They should be able to he said. If the public plan is able to reduc administrativecosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objectionm to that,” Obama said. The public plan should be requiredx tocollect premiums, not be “simplyu eating off the taxpayer trough,” he added.
Health insurerzs and many business groups contend a publi c plan would have an unfair advantage becauseit wouldn’tf be subject to all the rules imposefd on private insurers and likely would pay healtn providers less for their services. This coulcd crowd out many private insurers and lead provider s to charge private insurers more to make up for the lost incomse from thepublic plan, they contend.
When asker whether including a public plan in healtb 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 costs, and it has to providre relief to people who don’t have healthb insurance or are underinsured.” Obama also was aske what he thought about the performancd of Federal Reserve Chairman Ben Bernanke, givenm the fact his financial regulatory reform plan proposex expanding the Fed’s authority. “I think he has done a very good job unde verydifficult circumstances,” Obama said.
All regulators fell shorty of doing what was needed to preveny thefinancial crisis, but the Fed “probably performecd better than most,” he said. Since the financiao crisis erupted, Bernanke has “performed very Obama said.