[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.
Obamacare is a disaster. If this is all the Democrats are doing to fix it then we are in a lot of trouble. We need a comprehensive fix for Obamacare and not putting a band aid on a would that is gushing blood.
I can not believe that this person had been elected for two terms.
He did not do anything for the State of Illinois and you fools made him president.
No wonder the Russian president is the number one person in the world!
Subsidies paid by our tax dollars. That is the only way he can help these people dropped from coverage.
More of OUR money into the money pit !!
postulant impetitione !!
1 year extension...still a lie and doesn't fix it.
YEA!!!! We get another year until our insurance is gone!!!! WHATEVER!!
Hahahaha, Yeah, the insurance companies are going to offer you the same plan you had at the same price, hilarious. That would cause them to take a bath in extra costs mandated by Obamacare. So this "fix" amounts to nothing.
Yes you can keep your plan, no you can't, now...yes you can again...sort of.
This will weaken the Law, lol, silly neoliberals.
LMAO!! Trolls are out in full force. Everytime I hear of an American soldier died in those useless wars I think of the BIG lie the Bush Admin. told the American people. Obama may have lied about insurance policy but I think American soldiers dying based on a lie pretty much takes the cake.
Yes you are freakin hilarious, all you can do it say but but Bush lied.....Guess what, that does not make it any better, and furthermore, Bush went off the information he had (even MANY DEMS believed they had WMD!!!!), Obama knew it was not possible (reports say he was told in 2010 or so) for everyone to keep their policies and still kept lying over and over! So in reality, Bush did not lie because he thought it was true, was he right, no they did not have them but that does not make him a liar! But you just keep on drinking the kool-aid!!!! LMFAO
i'M glad all the citizens of the US are standing by our president and supporting him through these tough times. It's this
unity that america is so famous for that has made this nation strong.
How clever...delay cancellations until after the 2014 elections.
What happens in a year ?! The same thing. The insurance company's are doing this to kill the affordable health care plan.
Have the federal government step in and hold them in contempt of law with penalties and or prison time, and if need be seize all their assets.
Start a recall election for Obama, Reed and Pelosi, repeal Obamacare.
So the WH can just change laws at will? BS
If you keep your existing plan, wouldn't you be "losing" nothing? The real problem is that with fewer people taking the ACA approved plans, the insurance companies are likely to charge a lot more for those cancelled policy renewals, if they issue them at all.
OK – let's try this again. For all of those who make the claim Bush lied if you would at least please include the names of others who stood in the well of the Senate and make the same claims about WMD and they voted to take military action. Senators Clinton, Kerry, and Biden was an even earlier advocate of military action.
And PS – WMDs had been used in the past against the Iraq people who disagreed with Saddam.
PPS – Now on the topic the ACA has some great points all of which could have been resolved by Congress in many fewer pages and no one would have lost coverage, nor increases of coverage for those who must subsidize the lower income people,.
Really? too little too late O.
Here's hoping the "fixes" are better thought out than the rest of this edict was.
Remember, Barry, you are president of ALL Americans not just those whose votes you're trying to buy.
So what does that mean for me who was auto enrolled into the new plans and my plan went up 160 a month??? Just cause I wasn't grandfathered
I wonder what lies are hidden within THIS statement. Obama has no credibility anymore. Zilch.
This guy is nothing but a liar.
Sooooo basically this liar of a President wants to offer a one year fix with just the right timetable for getting through next years mid-term elections???? Once again he is all about securing votes instead of doing what is right for the American people!! A one year fix does nothing but push the same problem out a year......You can put a bandaid on a wound that will never heal....Mr. President if you want to do what is in the best interest of the American people, do what is right and scrap the entire ACA NOW!!!
Fix on the way?
You going to tell the law firm I work for that just cancelled everyone's 100 / 70 copay plan and dropped them down to a NO COPAY 1500 deductible then pay 10% of your entire bill that they have to GIVE IT BACK TO US!?
IM HOLDING MY BREATH! WE ALL GOT SCREWED and they are not going back! THANKS ALLOT! 1500 more out of my pocket on top of the "I wont raise taxes on anyone under 250k LIE" Funny WE ALL got a 2% income tax hit a year after he took office!
"Good! ACA is working... A final nail in the GOP coffin."
lol.. thanks, I needed that morning laugh.
Saw this one coming. There's no way to make insurance companies offer old plans. So give them the ability to do this and let them make the call.