[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 love the way the house democrats are scrambling to send a bill in so they can vote and show how they are for letting everyone keep their plans....one problem, the majority of them voted for ACA in the first place. Seeing this happen should tell everyone that our lawmakers did not read the law prior to voting for it. Fire them all! At least those who voted for it.
Obama can give a speech...I'll give credit where it's due. However, the man shouldn't be in charge of anything as he is not a well rounded leader..period.
Cash for Clunkers and Obamacrash??? Behold Americans, the Obama presidential legacy is starting to take shape.
Watch, the GOP will say "no" to the extension.
In other words, you STILL lost the insurance you like, just AFTER the 2014 elections.
Well, this needs to be pushed in the House and Senate not the White House. Last time i looked we had 3 branches of gooberment not just the executive.
This is more grandstanding!! This entire unneeded healthcare law is an incredibly expensive failure! We DON'T need it. It is just a step towards 'SINGLE PAYER' healthcare... US government healthcare run by bureaucrats...
Just wait until you see those hidden, or not mentioned huge tax increases!!!
If he can change for a year, why can't he change permanently? Oh wait, that's because Obamacare only works if you get kicked off of your plan and on to their "one size fits all" wasteful plans. Obama's great lie remains. He didn't say you can keep your plan for one more year, did he? Still have the great lie about lower premiums and deductibles for "most" Americans. Big fat lie. No credibility left with this administration.
If you implement the program horrendously and disenchant the populous, they'll blow it off and choose not to participate. As a result, the IRS fines (taxes) a much larger part of the population and, voila!, much more revenue to drop into this circus. It fits perfectly within a scheme to ruin America from within.
Lets say I buy a plan for $5 a month that has only one benefit: the doctor have to dance when he gives me a bill. I may like this plan because it is cheap and I am immature enough to believe that I will never get sick, and if I do it is somehow gets resolved. And I really want to see that dance! How am I different from being uninsured? Why does the whole country have to spend time and effort so I can keep my "coverage"? I say do not change the law, if I have a plan that is below minimum - I have to buy the proper one. Period.
So if you've already lost your insurance you get it back?? This disaster is going from a complicated mess to a complicated nightmare.
Obama keeps tweaking this law AFTER it has been passed. Who does he think he is – a king!.....more like a dictator!
It'll be interesting to see if the vulnerable Dem Senators actually think this lame "fix" is enough to get them through their elections.
So he dodges the real issue.
This bill would have never been this bad if your congressman had to accept the same level of care that has been shoveled on the masses. As he stressed earlier this year, ACA is settled law, but so is Sequestration, move on Mr. President. Both of these bills were the invention of the President yet some how the public still believes in this guy, yet his latest fix is only manufactured so he can save his democratic co-conspirators in the next election. When will the masses learn governing by handout is no way to American Exceptionalism.
Pull your butt out of the fire Obama.
Obama-Read the Constitution.
Please keep on raising our taxes to get the revolution here faster.
Deirdre Walsh and Mark Preston,
You lie as well as the President did not apoligize. He said...
Obama said, “I am sorry that they, you know, are finding themselves in this situation, based on assurances they got from me.”
He should have said, I apoligize that I lied to the United States people to get my law passed.
Again, our President never fails to display some of the " top ten qualities of a good leader" , and in this instance, they are to welcome input and always be willing to compromise in the best interests of the masses serving to make decisions in which you demonstrate that your leadership puts the concerns of others above self! Again, thank you Mr. President for always putting the needs of this nation and world above partisan-politics!
First, how can he legally do this? He can't! Second, so he is will attempt to minimize the impact of this disaster until AFTER the 2014 elections – don't fall for it conservatives! This is the same thinking that led to backloading the costs assoiated with this mess.
The Republicans have shown that they are for party over country and they want millions to languish with out healthcare. It makes them feel more successful when they see others do without and suffer. They don't have a right to call themselves the party that cares about religion because they are showing the world just how evil they are. We all know that they have plotted against this President and the tried to stop economic recovery in the hope of keeping their offices and trying to take back the White House. They have failed and will fail going forward. The Obamacare website will get fixed, millions will get insurance, including middle class people who were kicked out of insurance for being sick, (cancer is a prexisting condition), and people will thank Pres. Obama for his compassion and strength.
Good ! - Now, ditch the whole thing and get insurance companies OUT OF HEALTHCARE ! ! !
.
They are scamming us all ! !
HC cost have been rising fast over the last 12 years. In addition, we dish out grants to hospitals and scam religious run organizations. And we pay for those who visit emergency rooms and skip out on the bill.
Obama needs to raise the penalty for those who don't comply.
I'M sick and tired of paying for free-loaders and religious scam artists.
Oh please! just more political crap from the libs to stay in power...
We're done listening to you Obama.