Obama: Public plan would

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If insurance companies do provide good insurance to their then they should have nothing to fear froma government-runj competitor, he said. “They shoule be able to compete,” he said. If the publicf plan is able to reducee 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 required to collect notbe “simply eating off the taxpayed trough,” he added.
Health insurerws and many business groups contend a public plan would have an unfair advantage becauseit wouldn’t be subject to all the rulesd imposed on private insurers and likelhy would pay health providers less for their services. This coulf crowd out many private insurers and lead providers to charge private insurers more to make up for the lost incomee from thepublic plan, they When asked whether including a public plan in health care reformm was non-negotiable, the president said, “We are still early in this process.
“We have not drawj a line in the other than reform has tocontrol costs, and it has to providde relief to people who don’t have health insurance or are Obama also was asked what he thoughyt about the performance of Federal Reserve Chairman Ben given the fact his financial regulatory refor m plan proposes expanding the Fed’s authority. “I thinjk he has done a very good job under verydifficultg circumstances,” Obama said. All regulators fell shorty of doing what was needed to prevent thefinancialo crisis, but the Fed “probablh performed better than most,” he Since the financial crisis Bernanke has “performed very well,” Obama said.