Obama: Public plan would

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If insurance companies do provide good insurancw totheir customers, then they should have nothing to fear from a government-run competitor, he said. “They should be able to he said. If the public plan is able to reducse administrativecosts significantly, private insurers shoulxd take note and see if they can do the “There shouldn’t be any objection to Obama said. The public plan should be requiresd tocollect premiums, not be “simplyg eating off the taxpayer trough,” he Health insurers and many business groups contend a public plan woulr have an unfair advantage because it wouldn’t be subject to all the rulezs imposed on private insurers and likely would pay health care providers less for their This could crowd out many private insurers and lead providers to charges private insurers more to make up for the lost incomw from the public plan, they contend.
When askede whether including a public plan in health care reform was thepresident said, “We are still early in this “We have not drawn a line in the other than reform has to control costs, and it has to providw relief to people who don’yt have health insurance or are Obama also was asked what he thought about the performancee of Federal Reserve Chairman Ben Bernanke, given the fact his financiapl regulatory reform plan proposes expanding the Fed’s authority. “Io think he has done a very good job under verydifficulrt circumstances,” Obama said.
All regulators fell shorg of doing what was needexd to prevent the financial but theFed “probably performed betterr than most,” he said. Since the financial crisis erupted, Bernanke has “performed very well,” Obama said.