AP source: Obama to allow sale of canceled plans - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

President to allow canceled insurance plans to renew for one year

Posted:

WASHINGTON (WKOW) --President Barack Obama says health insurance companies can continue to sell policies canceled under his health care law for at least one more year to existing customers.

The President talked about the issues with the current online marketplace.

"We are going to solve those problems.  We are going to make it right.  And the Affordable Care Act is going to work," said President Obama.

The President did say he understands people are upset, "I understand why people are frustrated. I would be too."

White House officials say a letter going out to state insurance commissioners will specify that current plans sold to existing customers will not be considered out of compliance with the health care law in 2014 extending them a year.

While the administration is granting new flexibility, it remains to be seen if state regulators and insurance companies will exercise the option.

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WASHINGTON (AP) - A Democratic official says President Barack Obama has decided to allow the sale of canceled individual health insurance policies to existing customers, part of a plan to satisfy public discontent with "Obamacare."

Obama set a late morning White House announcement.

The official said the administration's one-year plan is to let insurers continue to offer plans that had been canceled because they did not meet coverage standards under the health care law.

The official says insurance companies must also notify policyholders that alternatives exist under Obama's health care program, and have to describe the areas in which their own plans fall short of coverage requirements in the law.

The official spoke on condition of anonymity because this person lacked authority to speak publicly ahead of a formal announcement.

 

CLICK here to listen to the President live at 10:45 a.m.

 
 
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