[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.
If Americans are stupid enough to fall for the GOP dirty tricks, they don't deserve any respect. Pres. Obama has tried to help the American people and the GOP only offers nothing negativity. The media has been a pawn of the Republicans, confusing people about how to sign up, and trying to make people afraid of AFFORDABLE HEALTHCARE. CNN and all the other "news" stations should be ashamed and history will write that you had a dubious hand in trying to destroy a healthcare system that is working in Massachusetts, Canada, England and in all the 1st world countries. Greed is destroying the spirit of the US, I hope you sold some more Ad space while lying and aiding and abetting that group of traitors known as the Republican Party.
Too late Mr. Obama. The thrills are gone. You and the dems are finished!
One more year with the same result, but it just happens to put off the bad news and continued loss of policies until after the election. There is only one obvious reason for this one year extention. Also love the use of "substandard" for policies that don't carry things you DON'T need.
It's like saying that putting a band-aid on a gunshot wound is a "fix".
Each move is more comical than the last, except that the whole thing is tragic really. Who are the rubes who believe in this guy?
Boy you're headline says it all "The FIX is definitely in"! LOL I love the idea that the President can "fix" a "law", or at least that's what I thought it was. How can he do that, the President has no legal authority to tweek a law and bi-pass the congress, give me a break. What are we a monarchy now?! Good grief!
"...many Americans have been getting dropped from their providers because their existing policies don't work with the new regulations." This is newspeak for "the new regulations outlawed the existing policies".
it is qite disappointing that the president's healthcare overhaul plan is not working as originally planned. I see that behind the scenes the GOP leadership and the insurance industry want it to fail from the get go and they are in cohuts in trying to dismantle it. Unfortunately there were a number of glitches which the administration did not foresee that led to a lot of confusion poor enrollment in Obamacare. If the ACA is so bad in substance how did it appeal to so many people? Someone is wishing the president to fail in this effort that will tarnish his legacy. I hope that the president will be able to fix the problem soon.
I work for Anthem and our insurance was dropped b/c of the ACA. Our employer advised its too costly for them to continue to carry the policies we used to have, Now we pay high premiums for policies that aren't as good as the policies we had..
The presidents you the American people have elected the past 20 years , shows me you have no judgement and sanity left. So really what does it matter anyway , as long as your delusion doesn't go away nothing changes.
So these people will face the same issue....just delayed 1 year. I guess he should have said "if you like your plan, you can keep your plan for a year"
CNN: don't go to this blog thing. this type of blog and cnn money sucks. just use discus. that's the best.
All who voted for Obama deserve exactly what they are getting. He lied and you all bought the Kool Aid. President Obama is a pathological liar and his five years in office have been nothing but deception. Impeachment would be a good start. Wake up America our country is being stolen from us by a leftist regime.
Another thing I don't understand, in all seriousness.. before Obamacare, if a person with zero insurance walked into the ER with an emergency condition, the hospital couldn't just kick them out. They have to treat them. The person can't pay, so the hospital eats the cost. Where does that money come from? It eventually has to trickle down to the taxpayers right? That was how it was already happening, and it happens ALL THE TIME. How are we worse off now?
How does extending the policies for another sovle anything? Sounds like a time-buying gymic to me.This is disgraceful. I think the voice of the American people has been ignored for long enough. He had a shot, messed it up big time, and now we are done trying to experiment. Repeal this bogus garbage law.
This president is so incompetent it's pathetic.
Let me understand: They voted for ObamaCare and all of it's provisions. NOW .they vote to change something that they knew needed fixed. SO ...I suppose they didn't know it back when they first voted. Did they not read the bill ?
AND ..they expect us to believe there isn't more issues down the road ? Scrap ObamaCare and start over.
Great – but that doesn't fix the fact that people getting dropped can't afford the options they are given through the "exchange". Give it up Obama – you lose – go back to Illinois and screw them up some more – they are used to it.
Delay is not a fix its kicking the can down the road. Most likely so that people don't see the full effect until after elections.
Will he really try to sell this crap to the American people???
Enough is enough we need to reverse track and act like the ACA never happened. We need a fresh start, and that begins with getting rid of the nucklehead in the white house. Impeach Obama he has ruined the US
How can insurance companies retract the canceled policies ? Any notification has to the Legal Dept. and is subjected to future lawsuit. Not that easy !
really? till just after the 2014 elections? shocking...NOT
2/3 of the OBcare shoppers did not sign up, maybe because it is not less expensive for those who do not get a subsidy!
Just like online car insurance – wait til they get your driving record...then the REAL premium is charged.
So Obama forces the insurance companies to reinstate cancelled policies and successfully further drives up costs. How foolish we have become.