Obama: Public plan would

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If insurance companies do provide good insurance to their then they should have nothinbg to fear froma government-run he said. “They should be able to compete,” he said. If the public plan is able to reduce administrativwcosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objection to that,” Obamza said. The public plan should be requirec tocollect premiums, not be “simply eating off the taxpayet trough,” he added.
Health insurers and many businesws groups contend a public plan woulcd have an unfair advantage becauseit wouldn’tt be subject to all the rules imposedd on private insurers and likely would pay healtgh providers less for their services. This couls crowd out many private insurere and lead providers to charge private insurers more to make up for the lost incomse from thepublic plan, they When asked whether including a public plan in healthb care reform was non-negotiable, the president said, “We are stilkl early in this “We have not drawh a line in the other than reform has to control and it has to provide relief to peoplwe who don’t have health insurance or are Obama also was asked what he thought about the performancde of Federal Reserve Chairman Ben given the fact his financial regulatory reform plan proposes expandingh the Fed’s authority.
“I think he has done a very good job underd verydifficult circumstances,” Obama said. All regulators fell shortt of doing what was needed to preventf thefinancial crisis, but the Fed “probably performedr better than most,” he said. Since the financial crisis erupted, Bernanke has “performed very well,” Obamq said.