[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.
Too little too late.
It's time for an impeachment before this country goes further up shit creek without a paddle!
He'll push off the insurance cancellations for a year, until after the 2014 elections, and then hope the Dems can use the breathing room to regain the house so they can go full steam ahead on single payer.
Kicking the can down the road so the Democrats can get past the mid term elections. There is nothing better about the coverage under the new plans compared to the old plan!
So basically he's still not keeping his promise, he's just saying that you can have it for another year, and then you'll lose it again. That doesn't fix anything!
Affordable Care will work long term. Thats the nightmare scenario for the right wing nuts.
Fair is Fair; the people with junk policies won't sign up anyway until they find out that they are wasting money. Possibly once they compare their policies to the ACA's, and stop listening to Republicans and FOX noise they will see that they can get better and cheaper coverage.
ONE YEAR? The implication is the same. If you like your current policy, you won't be able to keep it. Only the date has changed.
" I am responsible and accountable for the worst peace of legislation ever and I resign "
for a start.
Wow, Obama is going to give those who had policies canceled one more year to get coverage? That is really big of him. All that means to you low info voters is that Obama is allowing them to go one full year w/o any insurance coverage. He was the one responsible for them losing theirs and now he wants to keep them w/o insurance for a year. Who ever said Obama was smart. This was the "smartest" solution they could come up with? Pretty stupid again, Obama!
You can't force private companies to reinstate cancelled policies via an executive order. Obama is trying to act as though he has fixed the problem (that he created), and when his "solution" is shown to be legally unworkable, he'll throw up his hands and say "I tried to fix it, but it's the big ole' bad insurance companies that are cancelling you."
Extension is not an option. Nothing short of removing the "standards" and letting people choose the coverage that fits them and their budget is the only solution.
What fool. I'm not voting for any Democrat again!
So he basically shut the government down for nothing.
He could have given the year delay, could have resolved the issues, but instead he decided to stand his ground and take a hard nose stance.
He is a jerk, a liar, and makes Carter look like a good president.
So, in fewer words, you won't lose your insurance this year, but you will next year, right after the midterm elections. I don't know who is more stupid, the government or the electorate. I guess I will find out.
So the solution is to kick the can down the road until after the elections.
Obama blew it.....The Tea Party was right – they tried to tell the American people that this was going to be a disaster and the so called adults laughed them out of the room. Obama should have taken their offer – claimed that he was essentially blackmailed into doing it – both sides would have gotten some of what they wanted. Instead he refused to "negotiate" and, in the end, lost big time. Was this arrogance? Stupidity? Incompetence? What, at this point, does it matter? Conservatives need to avoid the trap that is being set for them by Democrats – the liberal left wanted this piece of crap and now they have it. Live with it.....and the fallout from it.....Don't give them a pass to let the problem hide until after the 2014 election.
Any bets his press conference doesn't begin on time? Much like ACA...
By what authority can Obama unilateraly change laws? Is he above the Constitution? Can he now change how tax laws are implemented?
Why is CNN so in love with guy
Do your job Stop kiss butt
Good! ACA is working... A final nail in the GOP coffin.
My gawd are you serious? It hasn't worked, isn't working and won't work! Talk about a low info voter, you win today's prize!
What a cluster??? Impeach him
The only acceptable fix is the compost bin. Scrap the whole thing, fix the damages and start over. Too many secrets, nontruths, and unknowns in this one.