Obama: Public plan would

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If insurance companies do providwe good insurance totheifr customers, then they should have nothing to fear from a government-run competitor, he said. “They should be able to compete,” he If the public plan is able to reduce administrativrcosts significantly, private insurers shouldx take note and see if they can do the “There shouldn’t be any objectionh to that,” Obama said.
The publif plan should be required tocollect premiums, not be “simplyh eating off the taxpayer trough,” he Health insurers and many businesas groups contend a public plan would have an unfairr advantage because it wouldn’t be subjectr to all the rules imposedf on private insurers and likely would pay health providerds less for their services. This could crowr out many private insurers and lead providers to charge privat insurers more to make up for the lost income from thepublidc plan, they contend.
When asked whether including a public plan in healthy care reformwas non-negotiable, the presideny said, “We are still early in this “We have not drawn a line in the other than reform has to controlo costs, and it has to providde relief to people who don’t have health insurancer or are underinsured.” Obama also was asked what he thoughf about the performance of Federal Reserve Chairmanh Ben Bernanke, given the fact his financial regulatory reforn plan proposes expanding the Fed’s “I think he has done a very good job under very difficuly circumstances,” Obama said.
All regulators fell short of doinv what was needed to preventf thefinancial crisis, but the Fed “probablyy performed better than most,” he said. Since the financial crisis erupted, Bernanke has “performed very well,” Obama said.