Addressing a campaign to renovate US health care system, President Obama vowed that his administration would soon form sets of principles to modernize the health care system with health insurance, he was addressing here on Saturday in Western Colorado University. During his address in front of 1,600 people, a student from University of Colorado, Zach Lahn, challenged Obama for a debate over the so-called public option, Zack Lahn asked President Obama that how private insurance companies could compete with a government option.

Zach Lahn said that public insurance companies here in US are not worried about earning profit, they did not have to pay property taxes, whereas, private insurance companies had to pay taxes, had to face district rules and regulations and so many hurdles in this regard. Zach Lahn said no private organization could compete with the public one in any way.

President Obama, while laughing at the student, replied, “I think we can craft a system in which we have a public option that has to operate independently, not subsidized by the government.” He said the purpose of this plan is to keep the impact of honesty in this business arena, adding no final decision had so far been made include the public option in the bill. He admitted that there is no ready solution available to resolve health care system in a few days but he maintained that the prevailing system needs to be changes.