Obama to announce health care ‘fix’ for Americans with cancelled plans
President Barack Obama will announce a “fix” to the health care law Thursday that allows Americans whose insurance plans are being cancelled to keep them for another year, a senator told AFP.
“It is not going to be just a little fix,” but a broader administrative solution that will allow millions of Americans set to lose their existing plans to maintain their coverage for one more year, said the Senate Democrat, who asked not to be named discussing an upcoming presidential announcement.
The lawmaker said the plan is expected to require insurance companies to renew for one more year policies for those who already have them in the individual market.
Obama and the White House will unveil more details of the plan shortly.
Should an insurance provider renew a plan that does not meet Obamacare standards, it would need to notify the policy holder of new coverage alternatives, and it would need to disclose the benefits that the policy holder would lose by keeping the existing, substandard coverage, a Democratic source told CNN.
The fix would pre-empt what is a growing movement in Congress to enact legislation that would allow millions of Americans to keep their coverage for an additional period until more permanent fixes to the health care law are made.