problems with public option

The proposed healthcare reform bill will penalize the current insurance companies with $67 Billion in taxes every year.   Is this true?  Then how will a public option plan be fair?  And won't that encourage companies to become self insured?

Also, will the public option employees be federal employees?  If so, will they be under a different plan?  In the private insurance market, those employees are invariably insured by the company they work for and so have a vested interest in being fair and keeping information private.