[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.
how about this, in a simple scenario ? instead of the creation of a monstrous bureaucracy to manage this massive redistribution of wealth, could congress not have enacted specfic legislations to address the core concerns of pre-exisiting conditions, dropped coverage, annual / lifetime caps ? i'm seeing another simple view: if each american (roughtly 330 million) were 'allocated' $1 million each / year, that's $330 million/ yr for a health care 'budget'. that's a HIGH estimate, as not every american would use $1 million in services each year. this is a hell of alot less per year than administering the ACA......
"In addition, the source said the President would allow state insurance commissioners to decide on their own to not permit this renewal."
Allow? He will allow? King Obama doesn't have that power.
One year doesn't fix the underlying problems. WHAT A JOKE! YOU can keep you plan... but ONLY FOR ONE YEAR!!!!!
What a load of BS. Kick the can down the road until after the midterm elections and the sheeple will still vote for us then we can finish them off.
Enough is enough!!! We have all had enough! NOBAMA2012!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
A 1 year extension. Hmm, that sounds familiar. Isn't that what Republicans shut down the government trying to do?
What gives him this authority? It would be awfully nice if CNN commented on that...
It does not matter what this President does to try to fix the ACA. The republicans dont want it fixed. Just like their number one goal was to make the President a "One Term President. NOT help the American people.
So if you like your healthcare plan you can keep it for one more year.
I am a fan and supporter of the President but...
Keep your word, Mr. President. Or don't make promised you can't keep.
As always, leading from behind. Glad I never voted for him.
This is a laughable "fix"... All it does is delay the inevitable. We will be having this very same conversation a year from now.
Give us a real fix or scrap the whole thing. No more of this "half baked" legislation.
Enough already. It's time for the man to admit this was a stupid idea from the get go. I agree with the late great Ronald Regan that the only thing the government should do is fight wars and deliever the mail.
But this isn't fixing or doing anything! Nothing! What an enormous disaster!
Kick the can down the road until after the midterm elections, then we finish off America.
Wasn't there a 1 year delay proposed that Democrats refused at the beginning of the government shutdown. So the Democrats are now allowing the one year delay. Does this now make them responsible for the shutdown?
never mind that last post.....obviously my math needs work.....
Our magnanimous leader is bestowing a years-long extension to fool the low information voter until the 2014 mid-term elections. I guess we are supposed to kiss his ring now in gratitude. Wake-up sheeple!
And to think that I longed for the day when George Bush would be out of the White House.
Extend already cancelled policies for 4.9 million people for one year huh. Which takes it past the mid term elections, avoiding the worst of the backlash for lying to the American people. Of course, after the mid-term elections, we will run into the very same problem. People having their policies cancelled, and we will be right back to where we are now. There has never been a more obvious political move, rather than giving a poop about the American people.
Just go golfing obama. You can't cause any further damage to us when you are goofing off.
Obamacare just died with the stroke of a pen. There is no coming back from this. The House of cards just fell.
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.
In other words, officials in some states made sure that their residents would not be able to keep their existing plans. Nice.
Interesting that the private sector knows that you need healthy people in the risk pool, but they want to dump the sick people off on the government and think that's ok. more bs from the privatize profits, socialize losses people. anyone that knew anything about health care would have known this was going to flop. except maybe some grad students or something that didn't have a clue to start with. obama's a bankster...not a health care person. we could see this coming. nonetheless...maybe it will push the medical profession over the cliff...they needed it anyway. On a good day they're pretty good at structural things. If people get real about their health care and this country maybe it will get them to a real national health plan. We don't want our health care run by oil banksters and wall street anymore. They're already pumping it in our veins. that's enough already. We need to get to something smarter. This is dumb.
Ummmmm politican, hello? No politician is trustworthy regardless of party