[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 is this going to help? Do they think voters wont go to the ballets knowing that they are about to lose their plans.
This will become a convoluted mess. This is no solution to a disaster.
After Nearly 6 million American Policies Cancelled due to Ob☭maCare, there is a real Panic that the Democrats that Rammed this law down the throats of the American People while opting themselves OUT, will Loose Seats and their hold on the Senate. So Obama will say he will hold off the Mandate for One Year in hopes to Fool the People until after the 2014 Elections.
Is he correct to assume that the American People are So Easily Fooled to Do This to Themselves Again?
I'm standing beside Trey Gowdy and Rand Paul....The Ob☭maCare Dems are Not In This For The Best Interest of The American People.
The Ob☭maCare Dems are Out as of 2014!
We The People Demand Our Position OVER Government Back!
I keep hearing about all these young people saying they don't "need" insurance.
QUIT BEING DEADBEATS. Eventually you WILL need insurance. Think of it like retirement. You are putting in the pool now when you're healthy so when you need it, it'll be there.
Otherwise when you do need care, we end up paying for your care.
SUCK IT UP AND PAY YOUR FAIR SHARE
I work in insurance and they cannot make these companies accept what this idiot is wanting to do since he has no idea what he is talking about. People will still lose their coverages and most will see them change to the point it will be a waste to keep that policy. They will still cancel their policies anyway. Premiums will go so high they or most of them will not be able to afford them anymore. This numnuts has destroyed our relations with so many nations and made a total ass of himself and now has screwed up insurance plans someone needs to somehow get this idiot out of the whitehouse.. Impeachment sounds good to me and much needed he has cause so much damage to our nation it is not funny in the least!!! Not only does he sound like and idiot he looks more and more like an idiot and still things he isthe greatest thing ever was. Hell I bet his big mama dont think so you never see her with him anymore not only a disgrace to our country but his own as well...
American wealth is on the rebound whether you're into real estate, stocks or just another Happy Democrat.
November 14, 2013 11:24 am at 11:24 am |
This has nothing to do with ACA. Stocks are up because of QE3 which is simply a re-levering of our balance sheet. This time it is the Fed levering as opposed to corporations and individuals. It is only a shift from one market to another and not real growth.
Real Estate is up because of supply and demand coming back into equilibrium.
The fed is doing QE to counterbalance all of the poor policies that come from the administration. They pretty much admit that.
Go back to Econ 101
What about all the people who have been dropped from coverage because their employers cut them back to "part-time" status, or all the spouses and retirees that have lost coverage because employers simply decided to drop coverage on them? And what about the huge premium increases that employers are going to pass along to their employees that manage to stay full-time with insurance? Where is help for these folks? Let's get some statistics on how many people have been affected for these reasons!
I think the CNN web page says it best today:
Today's headline: "Obama's 'fix' for Obamacare"
Ad surrounding the entire front page: "Gentlemen, This Is Vodka."
YES! Way to go Obama, and not once did you blame Bush, racism, or some random intern. This will fix everything except for the website, the fact that only about 9 people who are true payers have signed up, or that you will bankrupt an entire generation of young people to finance this debacle.
This is called "throwing spaghetti against a wall to see what sticks".
This is not even close to a fix; rather, it is a way for Obama to once again lay blame for his total failure at the feet of someone else. In this case he will say that the insurance companies are at fault. He is the most classless pos who has ever soiled the WH!
I've got a better fix...get rid of Obama as president
Ke nee? IYO you really admit you don't have a clue. A bill forced through with not bi-partisan support, a president that has lied to you and me dozens of times just about this issue. He is working to slowly destroy our healthcare and he is finally getting called on it. The tea party tried to warn you and tried to stop this over the last several years and just recently saw the Left shutdown the government because they could not admit we were right about this disastor. Now he is under pressure from both sides and he is going to allow some people that he deems to keep there policy until after the elections.....Does that about sum it up?
One year? Big deal. Try repealing this mess, then cooperatively starting over.
Looks like an investigation into the greedy practices of the insurance companies (like the investigation of the bankers) is now way overdue.
I currently have a WONDERFUL policy that cost me $350 per month & covers me in hospital, emergency, all my doctors are on it !! It is NOT a FLIMSY policy!!!! This same policy thru OBAMACARE is still available to me for $750. a month – Yes I can keep it but the question is "AT WHAT PRICE?"
I cannot afford a penny more a month – so I will not have ANY healthcare if this goes thru-
We need to make a statement – No One should sign up !
If someone tells me on at least 6 or more occasions in public, in front of millions on TV that if I like what I have I can keep it, Period, what does keep it mean? In most thinking peoples minds, keep it means I keep it for as long as I decide I want it, not you can keep it for one year. When are people going to wake up to the fact that no ruler on this earth is going to do anything to help anyone but themselves? Which is exactly why I don't cast my vote for any man made ruler. I know those who read these posts hate any references to religion or the Bible, but take a look at Daniel 2:44 and see for yourself where all of these governments are going to wind up. This worlds governments cannot be "fixed".
The president is not to blame . Blame the business owners who change insurance companies or level of coverage EVERY YEAR under the guise of saving money for the employee. The owners pocket the savings and make insurance co. lose money in the long run.
WOW. My plan is failing, so I will [try] to force carriers to spend $millions and millions to fix MY self inflicted problem, and expect people to think I am smart - Obama.
Well, good luck with that.
This does nothing...
"You can keep your policy. Period." is still not true.
Unfortunately his delay will not address the following train-wrecks caused by the ACA law in the future:
1) Business dropping employee coverage next fall. Estimates are that it will be between 30-50 million people.
2) Already seeing this trend of dramatic rise of part-time employment (this will increase when employer mandates kick in). Kiss that full-time job good-bye!
3) People who have signed up successfully will receive notices that the quoted insurance premiums they got for this year will be rising the following year by over 25%. This will be due to the lack of healthy signups and the dramatic increase in medicaid signups.
Extension?.....how about a waiver...predictable move when mid-terms are in sight...........
I don't understand...if pres Obama can make ins cos offer ins to people w existing conditions, and not let them cancel out people w conditions and if he can make ins cos stall out cancellation notices, why can't he mandate that these ins cos not cancel because of obmacare
Mr. Slate at the quarry says the extension is another gov't joke.