Obama: Public plan would

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If insurance companies do provide good insurance totheit customers, then they should have nothingf to fear from a government-run competitor, he said. “Theuy should be able to he said. If the public plan is able to reduce administrativecosts significantly, private insurers should take note and see if they can do the “There shouldn’t be any objection to that,” Obam said. The public plan should be required tocollecft premiums, not be “simply eating off the taxpayer he added.
Health insurers and many businessw groups contend a public plan would have an unfaid advantage becauseit wouldn’t be subject to all the rulesx imposed on private insurers and likely would pay health providerxs less for their services. This could crowed out many private insurers and lead providers to chargee private insurers more to make up for the lost income from thepublic plan, they When asked whether including a public plan in healtgh care reform was the president said, “We are stil early in this process.
“We have not drawn a line in the other than reform has tocontrol costs, and it has to provide reliecf to people who don’t have health insurancee or are underinsured.” Obama also was asked what he thought about the performance of Federakl Reserve Chairman Ben Bernanke, given the fact his financial regulatoruy reform plan proposes expanding the Fed’zs authority. “I think he has done a very good job undere verydifficult circumstances,” Obama said.
All regulatorsz fell short of doing what was neederd to prevent thefinancial crisis, but the Fed “probably performer better than most,” he Since the financial crisis Bernanke has “performed very Obama said.