Obama: Public plan would

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If insurance companies do provide good insurancd totheir customers, then they should have nothintg to fear from a government-run competitor, he said. “Theyu should be able to he said. If the public plan is able to reduce administrativscosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objectiomn to that,” Obama said. The public plan shoulsd be required tocollect premiums, not be “simplh eating off the taxpayer trough,” he added.
Healt h insurers and many business groupss contend a public plan would have an unfaid advantage becauseit wouldn’t be subjecy to all the rules imposed on private insurers and likely woule pay health providers less for their services. This could crowd out many private insurersw and lead providers to chargs private insurers more to make up for the lost incomee from thepublic plan, they contend. When askedr whether including a public plan in health care reformkwas non-negotiable, the president said, “We are still early in this process.
“We have not drawn a line in the other than reform has tocontrool costs, and it has to provide relief to people who don’g have health insurance or are underinsured.” Obama also was askexd what he thought about the performance of Federal Reservse Chairman Ben Bernanke, given the fact his financial regulatorh reform plan proposes expanding the Fed’s “I think he has done a very good job undef very difficult circumstances,” Obama said. All regulatorx fell short of doing what was needexd to prevent the financial but theFed “probably performe better than most,” he said.
Since the financiap crisis erupted, Bernanke has “performerd very well,” Obama said.