President Obama has reversed part of his signature healthcare law, allowing people to temporarily remain on plans that do not meet minimum standards. Obama made the change in response to mounting pressure after some consumers received cancellation notices despite vows they could keep their plans.
President Obama: “The bottom line is insurers can extend current plans that would otherwise be canceled into 2014, and Americans whose plans have been canceled can choose to re-enroll in the same kind of plan.”
During his address, Obama admitted his administration had “fumbled” the rollout of the new law. The impact of the latest change remains unclear since insurance firms and state officials still may not allow people to keep the old policies.