[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.
"health", insurance is not a retirement plan. it is a financial risk reduction tool. You have to weigh the potential cost of getting sick against the cost of the premiums and the chance that you will get sick. Statistically insurance is a money loser for most people as only those who get really sick receive more in insurance benefits than they pay in premiums. Obamacare takes away people's choice to decide what is best for them.
The ACA is SETTLED LAW. It cannot be changed now.
Hey this is the CNN website. I thought everyone here loved Obama Most Merciful. Don't tell me CNN is shifting to the middle – if they do that they will kill the big 3 networks.
Anyway, this officially ends Obamacare. Like 'cindy' stated – no way are all those plans going to be reinstated (a lower cost plan...really?). So when everyone CAN'T get their plans reinstated, his highness will either be blamed that he lied AGAIN, or that he is completely impotent when it comes to positively affecting the insuracne industry – something he clearly knows absolutley nothing about.
The president did not cancel your insurance plan (if it was cancelled), your insurance provider/employer chose to do so because they did not want to offer you a better plan. Nothing much you can do about your insurance provider except to get a bigger plan, but in terms of your employer – complain to them that they are too cheap and not competitive enough. Remember, most companies are still offering insurance without any changes (because they were not considered substandard). Many companies that were considered substandard upgraded their plans. So only a few companies are opting to not offer their employees anything. In that case, maybe it's time for those employees to find a new employer – cause rest assured, the owner/ceo and executive members of the company get insurance
Should have been fixing it all along. Healthcare reform is important ALL congressmen and senators need to be fixing the bill.
Probably an attempt to shift blame back to insurance companies. "What – WE said you could keep it for another year, it must be them". At least, that's the best I can make out of this. It doesn't really make a lot of sense.
He is saying we can keep our plan for 1 more year. I want to keep it for as long as I want. I do not want to go through this again next year. Come on Obama.
If you like your plan, you can keep your plan. Will go down in history with all the other catch phrase's, like, Read my lip's, no new taxes".
Good lord above, but we're a nation of whiners!! Holy cow. Do any of you people think the status quo is okay? Almost 15% of our population without health insurance at all, and millions more with plans that are insurance in name only. Millions of people a year going bankrupt because of outrageous medical bills. Is that a good long term plan? Is Obamacare perfect? No, not remotely. No one has ever said it was nor that it will ever be. But it's SOMETHING. And something has to be better than nothing with the gigantic goat rope we have now. Just because it doesn't affect you personally doesn't mean that others – probably people in your family or your neighbors – won't benefit from it. Did we anticipate that there would be problems getting it implemented? YES WE DID!! Anyone with two brain cells to rub together knew this was going to be difficult – and I might add, made more difficult by the behind the scenes machinations of those on the right who are doing everything in their power to torpedo it. Does that mean we should scrap it? If you build a house and the air conditioning doesn't work right the day you move in, do you burn the house down? If you get a new car that has a noise in the transmission, do you send it to the scrap yard? That's as ridiculous as the idea of scrapping Obamacare because there's a problem with the very first step in getting it implemented. Let's grow up just a little and give things a chance.
Year? My plan is GONE! I can no longer see my doctors!!!!
The USA is supposed to be "the land of the brave and the land of the free." Nothing free about Obamacare being shoved down our throats.
Why is it so hard for the public to understand. If you're being dropped, it's because you have a terrible insurance plan!
nope, let all those whiners just pay up, isnt that what obamacare is all about?
It's pretty amazing how the media and the left bashed the crap out of W , and we get this healthcare law passed without even reading it. Now the milks gone bad and the left is scrambling. What have you learned? We don't need government running our lives....that's not the purpose of the federal government that was set up many, many moons ago. The positive about this for those on the left is this fiasco that is going on has put the other disasters on the back burner....Bengazi and the NSA fiascos. Keep pointing the fingers folks!!.....instead be responsible and use thumbs.
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
Spoken like a true looter.
I his staff had been upfront and honest with the Pres. he could have used this to his advantage by giving in to the GOP over the shut down by giving the one year extension. WH staffers responsible should be fired. Incompetence unbelievable.
This is not a solution, and this does nothing to reverse the damage done. The only solution is to go back and stand by his original statement. If people like their current coverage, they can keep it.
More people have lost health coverage under Obamacare than got health coverage.
That's as comforting as you doctor telling your your inoperable brain tumor will stop growing for 12 months, then after that it starts growing and spreading again. He just wants to stop the bleeding until after the mid term elections to keep his majority democrat Senate in tact and try and take the house so he can... FINISH US OFF!
Is this a joke? Does he think we are this stu pid? How demeaning.
This is just a distraction for what is really happening. We, as we speak, are losing our sovereignty to corporate world government. The deal is being worked on right now and is top secret and only a handful of representatives have been allowed to see this deal as it was when they saw it but were gag ordered. they warned the American people already, just youtube it and you'll find what I'm saying. There you can find a representative stating what the deal is going to do to America. If you still believe in liberty, then you should watch it.
If the ACA does not work for you because you do not have any insurance, try the Republican plan! If the ACA does not work for you because you have a pre-existing condition, try the Republican plan! If you love you existing insurance that is not compliant with the ACA, don't get sick.
So my insurance is cancelled 12/31... in less than a month I am supposed to believe that Obama and his cronies and the ins company are going to have fix? how can a President just change a law? He can't.. the disaster just keeps going...
No one, including the president, has apparently read the ACA bill! Otherwise, Republicans would have been specific enough as to the reason this law would not work! It is obvious the Democrats in Congress did not read it either; they just went like sheep to the slaughter and voted for it! Otherwise, they would not be as surprised as the public is today! We're worse than a third world country. I come from one and know for a fact that something like this would never happen without major general strikes and public demonstrations on the streets! We all take it on the chin and continue paying taxes to fund a bloated government and a lazy Congress, who does not even take the time to read a law before they vote for it. This law is going to take us further into bankrupt and we're witnessing the beginning of the end of this great nation. No nation can withstand this expense! Why couldn't the president force legislature that caps medical lawsuits? Why couldn't the president bring in insurance companies, doctors, pharmaceutical producers, and Congress into a brainstorming session to find a better solution to the cost of medicine and insurance? They're all a bunch of incompetents that should be fired in next elections!
@Lopez – After Nearly 6 million American Policies Cancelled due to Ob☭maCare,
I love the way the rabid right continues to pull numbers out of their a$z$ and say this happened and that happened. It's BS.. turn off parrotnoise for 15 mins a do a little research... If you keep repeating enough BS you actually start to believe it.. it's amazing how uninformed the rw rabble are.
Lopez said: "Is he correct to assume that the American People are So Easily Fooled to Do This to Themselves Again?...
The Ob☭maCare Dems are Out as of 2014!"
Americans are STUPID! We voted for these fools! We'll do it again. The Democrats do their research, they know US pretty well.