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Obama Lauds Senate Health Care Legislation

WASHINGTON -(Dow Jones)- President Barack Obama said the health-care bill unveiled by a key Senate panel Thursday "reflects many of the principles I've laid out," including the concept of a public health insurance option.

"The Senate HELP committee has produced legislation that lowers costs, protects choice of doctors and plans, and assures quality and affordable health care for Americans," Obama said in a statement.

He said that when the Senate Health, Education, Labor and Pensions Committee measure is merged with a companion bill crafted by the Senate Finance Committee, the final product will be deficit neutral, reduce health care costs and cover 97% of Americans.

Obama also lauded the HELP panel measure for prohibiting insurance companies from refusing coverage to people with pre-existing conditions and endorsing the concept of insurance exchanges for people to shop for health plans.

"Among the choices that would be available in the exchange would be a public health insurance option," Obama said. "The public option would make health care affordable by increasing competition, providing more choices and keeping the insurance companies honest."

-By Henry J. Pulizzi, Dow Jones Newswires; 202-862-9256; henry.pulizzi@ dowjones.com

  (END) Dow Jones Newswires
  07-02-091150ET
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