Obama says insurers profit with his health plan

The Associated Press
June 25, 2009

WASHINGTON -- President Barack Obama says insurance companies will make less profit on each patient if he gets his health care overhaul.

But Obama says they'll make it up because they'll have more paying customers when the uninsured sign up for coverage.

Obama pitched his health plan during an ABC News' town hall-style event from the White House's East Room.

Insurers aren't buying it. They say Obama's plan to have them compete with a new government program would drive them out of business.

Republicans complained they were shut out of the event.

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