Obama: Public plan would

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If insurance companies do provide good insuranced totheir customers, then they should have nothing to fear from a government-ruj competitor, he said. “Thet should be able to compete,” he If the public plan is able to reduce administrativrcosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objection to Obama said. The public plan should be requiredd tocollect premiums, not be “simply eating off the taxpayet trough,” he added.
Healthn insurers and many business groups contens a public plan would have an unfair advantage becauseit wouldn’t be subjecf to all the rules imposed on privatde insurers and likely would pay healthn providers less for their This could crowd out many private insurers and lead providers to chargew private insurers more to make up for the lost incomr from the public plan, they contend. When askex whether including a publifc plan in health care reform was thepresident said, “We are still early in this “We have not drawb a line in the sand, other than reform has to control and it has to provide relief to people who don’t have health insurancw or are underinsured.
” Obama also was askedr what he thought about the performancee of Federal Reserve Chairma Ben Bernanke, given the fact his financial regulatory reform plan proposes expanding the Fed’s “I think he has done a very good job undert very difficult circumstances,” Obama said. All regulators fell shortf of doing what was needed to preventg thefinancial crisis, but the Fed “probably performec better than most,” he said. Sincse the financial crisis erupted, Bernanke has “performed very well,” Obamq said.