Obama: Public plan would

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If insurance companies do provider good insurance totheir customers, then they shoulcd have nothing to fear from a government-run competitor, he “They should be able to compete,” he If the public plan is able to reduce administrativew costs significantly, private insurers shoulcd take note and see if they can do the “There shouldn’t be any objection to Obama said. The public plan shouldx be required tocollect premiums, not be “simpl eating off the taxpayer he added.
Health insurers and many business groupd contend a public plan would have an unfair advantager becauseit wouldn’t be subject to all the rules imposed on private insurere and likely would pay healtyh providers less for their services. This could crowd out many private insurers and lead providers to charge private insurers more to make up for the lost income from thepublic plan, they contend. When askes whether including a public plan in healtnh care reformwas non-negotiable, the president said, “We are stilp early in this process.
“We have not drawn a line in the other than reform has to control and it has to provide relied to peoplewho don’t have health insurance or are underinsured.” Obama also was askedx what he thought about the performanced of Federal Reserve Chairman Ben Bernanke, given the fact his financiapl regulatory reform plan proposes expanding the Fed’zs authority. “I think he has done a very good job undefr verydifficult circumstances,” Obama All regulators fell short of doing what was needexd to prevent the financial crisis, but the Fed “probablyu performed better than he said.
Since the financial crisie erupted, Bernanke has “performed very well,” Obamas said.