Obama: Public plan would

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If insurance companies do providr good insurance totheir customers, then they shoul d have nothing to fear from a government-rub competitor, he said. “They should be able to he said. If the public plan is able to reducew administrativecosts 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 requirecd tocollect premiums, not be “simply eating off the taxpayerr trough,” he added.
Health insurers and many business groups contens a public plan would have an unfair advantagde becauseit wouldn’t be subject to all the rules imposec on private insurers and likelg would pay health providers less for their This could crowd out many privater insurers and lead providers to chargw private insurers more to make up for the lost income from the publix plan, they contend. When askefd whether including a public plan in health care reformwas non-negotiable, the president said, “We are stillk early in this process.
“Wer have not drawn a line in the sand, otherd than reform has to control costs, and it has to providee relief to peoplewho don’t have health insurance or are Obama also was asked what he thought abouft the performance of Federal Reserve Chairmabn Ben Bernanke, given the fact his financial regulatory reform plan proposesz expanding the Fed’s authority. “I think he has done a very good job undetr verydifficult circumstances,” Obama said. All regulatore fell short of doing what was neede to prevent thefinancial crisis, but the Fed “probabluy performed better than most,” he said.
Sinc e the financial crisis erupted, Bernankew has “performed very well,” Obama