Obama: Public plan would

buluhofuce.wordpress.com
If insurance companies do providr good insurance totheir customers, then they should have nothing to fear from a government-run competitor, he said. “They shouldx be able to he said. If the public plan is able to reducer administrativecosts significantly, private insurers shouldr take note and see if they can do the same. “Theres shouldn’t be any objection to that,” Obam a said. The public plan should be requiree tocollect premiums, not be “simply eatingv off the taxpayer trough,” he added.
Health insurerse and many business groups contend a public plan would have an unfair advantage becauseit wouldn’ty be subject to all the rules imposed on privatwe insurers and likely would pay health providerd less for their services. This could crowd out many privatew insurers and lead providers to charge private insurersa more to make up for the lost incomse from thepublic plan, they contend. When asked whetherd including a public plan in health care reformjwas non-negotiable, the president said, “Wre are still early in this process.
“We have not drawmn a line in the sand, other than reform has to control costs, and it has to providre relief to peoplewho don’t have healtb insurance or are underinsured.” Obama also was aske what he thought aboug the performance of Federal Reserve Chairman Ben given the fact his financial regulatoryh reform plan proposes expanding the Fed’es authority. “I think he has done a very good job underd verydifficult circumstances,” Obama said. All regulators fell short of doiny what was needed to preventy thefinancial crisis, but the Fed “probably performedd better than most,” he said.
Sinces the financial crisis erupted, Bernanke has “performecd very well,” Obama said.