[Breaking news update 11:55 a.m. ET]
Sources close to the insurance industry tell CNN's Gloria Borger that it looks like insurance companies will cooperate with President Barack Obama's proposed solution to the problem of health care plan cancellations due to Obamacare.
[Original story posted 11:03 a.m. ET]
(CNN) - President Barack Obama will lay out an administrative solution to address the problem of people getting cancellation notices from their health insurance providers due to the Affordable Care Act, a senior Democratic source familiar with the plan tells CNN's Chief Congressional Correspondent Dana Bash.
Obama will deliver remarks at 11:35 a.m. ET in the White House Press Briefing Room, the White House announced Thursday morning.
The plan will in part call for insurance policies to be renewed for one year for those who already have insurance policies in the individual market, the source said.
If an insurance company does renew a substandard plan, it would be required to do two things. First, it would have to notify the policy holder of alternative coverage options. Second, the company would have to disclose all of the benefits a policy holder will lose if she keeps an existing substandard plan.
The source noted the President may disclose additional details.
White House says Obamacare site improving, enrollment off sharply
In addition, the source said the President would allow state insurance commissioners to decide on their own to not permit this renewal.
It's worth noting, however, that there are some states - including Virginia, Kentucky and Idaho - that require all plans in their state to comply with Affordable Care Act standards.
White House officials get earful from Democrats on Obamacare
Even though the President is about to announce the fix, House Democrats are planning to unveil their own legislative proposal that will be offered as an alternative during a procedural vote on the House GOP bill tomorrow, according to two senior House Democratic aides.
“It's back up,” one of these aides told CNN. “We want to have suspenders and a belt.”
This will allow members of Congress to be on the record voting for a solution.
Poll: Obama approval ratings drop, Americans say he's not trustworthy
When selling Obamacare, the President repeatedly assured Americans they would be able to keep their plans if they liked them. However, many Americans have been getting dropped from their providers because their existing policies don't work with the new regulations.
Obama has since apologized for people losing their coverage and pledged to find a solution.
Many in Congress avoiding health care exchanges
- CNN’s Deirdre Walsh and Mark Preston contributed to this report.
Congress makes laws, not the President. He will never get this thru but will demonize the Conservatives when he can't get his way. SPIN SPIN SPIN SPIN Strategy of the LEFT LEFT LEFT.
Funny. Who believes what he said? American people typically the 5 millions lost their HC plan KNEW very well this government is trying to do. THERE'S NO WAY OUT!
You can keep your HC/Doctor. PERIOD.
The end of Obozo and Demorats is nearer....
This temporary relief is wise.
Please note that CA, a state that embraced the PPACA has, as of this past Tuesday, fully enrolled 59,000 people in private insurance through its exchange, as well as finding that another 72,000 are eligible for expanded Medicaid–called Medi-Cal in California. The law and the sign-up process are working effectively in CA,
I remember getting out of High School and saying that George W. Bush was the worst president ever. I have since changed my position to 2nd Worst. I'll be voting third party from now on, just like I did in 2012.
One solution Repeal Obamacare and put together a true bi-partisan bill
A one year extension of what? Being uninsured?
Moving the goal post is not a fix, Coach Obama.
Democrats continued to say NO NO NO NO and now that the American public has gotten their attention it looks like YES.
Obama has become an embarrassment to the country. He is a complete failure and refuses to do anything other than what's best for his administration and fellow Democrats. Until politics are removed from the equation, this will continue and the people and the country will suffer the consequences.
A month and a half ago, the GOP's final offer before the government shut down was to delay the individual mandate for a year and put Congress on the law as well. Supposedly this was so horrible (and hostage-taking and other nonsense) that Senate Democrats preferred to shut down the government.
Now Obama is delaying it, just like the GOP asked for? So what was the government shutdown about, then, other than Democrats throwing a temper tantrum?
Gyrogearloose has it correct. You now lose your plan in a year. Still can't keep it or your doctor. The lie continues.
President Obama " Hey I lied to you, but it's not the first time." "Fooled you!"
First, too little too late. Second, under what provision of the LAW does it allow him to do this? For such a "smart" guy he really doesn't have a clue sometimes.
Soooooooooooooooooo we shut the Government down over this exact same solution and here a single month later we are doing exactly what the House Conservatives wanted to do in the first place?
Who's fault was was the shutdown now?
One year then what, take away what you call sub-standard HC policy?
I like the way CNN has adopted the administration's lingo in referring to these plans as 'substandard'. There's nothing 'substandard' about a policy that only covers things that an individual is likely to need.
And that is why CNN is a garbage corportaion. If you leave a comment that contains common sense, they moderate it. I guess they prefer their readers to only be informed by what they spoon feed them. I feel sorry for your readers.
Fixing Obama Care is like trying to move a Colorado mountain to the beach of Florida. It just isn't going to happen. It is broke, broke and has cost the tax payers almost 1 billion dollars.
This man needs to get out of peoples private affaris.
Why is my policy a junk policy? It has everything that Obama's ACA policies have except for two things: Maternity Care and Female Birth Control. I am a 54 year old single man. Why do I have to pay for maternity and Female Birth Control coverage?
”Life is tough, but it’s tougher when you are stupid.”~ John Wayne
OMG, this isn't a fix, it's a finger in a dam......Please people, see through this joke.....
This clown probably just gave both Houses and the White House to the Republicans in '16. Unless they give it back before then. Is a functioning government an impossibility?
How exactly, does he do this without a change in the law? Does he get to make his own laws? How is he going to compel the insurance companies to renew these already cancelled policies? This smells like a delaying tactic to get past the mid-term elections.
Why do they keep on calling them "Substandard Policies", I have a good plan with Blue cross, just because my policy doesn't cover addiction or offer "Mental Health coverage", does not make the policy "substandard", it makes the policy right for me....To all the liberals, please stop trying to help me.