[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.
I loveI Obama more every day! What a hand he was dealt!! He is amazing!
Wow – push the pain past mid-term elections – that is all these people care about. This thing needs to be scrapped and started over. Leave a few of the good things that were accomplished but get the incompetent Federal goverment out of this. They cannot do it.
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 liar, will cause the death of Americans, and makes Carter look like a good president.
Remember when it was Romney who killed that guys wife?? Ha, Obama will create an Obamacide.
Time to impeach!
Drop Your Guns and raise Your hands in the air We the Government are going to force You to buy insurance and if You don;t like it We really don't care.
He hasn't exactly apologized. He said he's sorry people have lost their insurance based on his assurances but that's by no means a proper apology.
All the people crying about losing their heaalth insurance should blame the company and not the President. Insurance companies that do not want to comply with the Affordable Care Act are dumping their insurance not the President.
So...you still can't keep your current policy technically (after a year, you have to get something under ACA standards). So it's still not true.
The Democrats on a party line vote are driving this train over the cliff and obama is in the caboose telling everyone to stay in their seats and enjoy the ride.
One man making it up as we go along! The worst is yet to come!
That is NOT a fix. Abolish the Owebamacare TAX!
" I am responsible and accountable for the worst peace of legislation ever and I resign "
for a start.
But wouldn't that be a lie since the true people responsible for this piece of legislation are the Republicans circa 1990's? It was their alternative to universal health care that the ACA was modeled off of. Especially the aspect of having a mandate for health insurance, which back then was considered perfectly constitutional.
Barry you are in over your head, admit and move on. dump this dog now!
I would not believe any thing this PRESIDENT says===This speech he will give today 11-14-2013 & 11:35a.m. is just him talking -killing time- to get the American people to forgive him all the LIES HES TOLD SINCE HE TOOK OFFICE,HES NOT GOING TO CHANGE...HE HAS AN AGENDA AND ITS NOT TO HELP THE AMERICAN PEOPLE I-ITS JUST A DELAYED TECHICA... UNTIL AFTER THE 2014 MID-TERM ELECTION....HES AN EVIL,LYING,VINDICTIVE, person...
Works for me.. health care coverage I can afford!
@Luke,Az – catch up Luke "Junk olicies" was yesterdays excuse.......@John King – no this is but a stepping stone to what the liberal left really wants – Medicaid for everyone – paid for by someone else........
A logical solution from an intelligent, thoughtful and caring president.
What a mess! This, even if it would address the problem, will take time to implement. Somebody has to look over the details and tell the insurance companies what is "in scope" and "out of scope" (you know, to avoid people flocking off the exchanges back to their old policies). Then they have to recrunch their numbers. And a whole lot of mailings to people telling them the last letters advising of cancellation are null and void, time for the recipients to accept or decline, time for the policy to kick in. And this just adds more to the plate of the same regulatory officials (Chao, Sebelius, etc) stuck in the website quagmire, all to be accomplished before the same old deadline. This "fix" is just kicking the can down the road. Once again, the cure is worse than the disease.
Obama is a good speaker, but as a communicator he sucks. He needs to get on televison, outline what's wrong with the ACA and tell the American people how he's going to fix it. This is just one issue of many with the program and all he is doing is kicking the can down the road. We are stuck with Obama Care...TALK TO US AND MAKE IT WORK!
Why does he have to be called a liar? Because he made mistakes we all have. Grow up and show the man some respect. he has done more than the last one did that's for sure
A one year delay? How about the fact 5M people and going up have lost their insurance and now must pay 50% more if htey want to get health insurance
Perhaps, just maybe, if the Grand Old Party had accepted the LAW of the land and embraced the change (rather than kicking, screaming and crying whilst attempting to hold the national budget captive) our nation could have had a successful transition. For all those saying that Obama is a "liar," I beg for you to look at the true liars and frauds in the government. The ones who claim to be for democracy, while not being able to grasp that part of democracy is allowing for a vote and accepting the outcome.
It's a reasonable gesture, a little time while we figure things out. Obviously the insurance companies must collect more premiums to cover their risk of accepting pre-existing conditions, and this means that rates will rise and some policies will be modified while others canceled. I see a lot of "liar statements." In my opinion these are thinly veiled conspiracy theories, and I don't believe in assuming conspiracies when either accident or unintended consequence could explain the results.
You can keep your plan for one more year?? So next fall all the people that were going to lose their health care plan this year get to lose it next year. Next year the employer mandate kicks in so there will be even more people losing their health care plans!
So nice of you and your lying regime.