Obama Draws Praise, Jeers From Biz

President Obama scored points by bringing up medical malpractice costs and got another rasberry from the insurance lobby.

At first blush, the president's speech on health reform last night didn't change too many minds in the business community. The drug makers and the American Medical Association reiterated their backing of the president's reform and the insurance industry, as expected, still hates the plan.

"There was absolutely nothing that was new or that was surprising," says Laurel Pickering, executive director of the New York Business Group on Health, which includes 170 large employers.

Pickering did credit the president for saying he would study medical malpractice costs. Though it's hard to say how seriously any Democratic administration will consider tort reform.

A trade group representing insurance companies criticized Obama's plan to tax high-end health insurance plans.

“Health care reform must also include a serious commitment to cost containment to ensure coverage is more affordable and to put our health care system on a sustainable and fiscally responsible path," Karen Ignagni, president and CEO of America’s Health Insurance Plans said in a statement. "New taxes on health care coverage will have the opposite effect by making coverage less affordable for families and small businesses across the country."