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Reform update: Obama won’t require insurers to upgrade existing plans to meet ACA requirements

Seeking to defuse a growing political furor as millions of Americans receive cancellation notices from health insurers, the Obama administration will not require insurance companies to upgrade existing individual plans to meet the requirements of the federal health care law for 2014.

The announcement comes a day after the administration reported that just 106,000 Americans enrolled in private plans through the law’s health insurance exchanges through Nov. 2. A number of Democrats have signaled they would support legislation to address the cancellations and the troubled rollout of the health care reform exchanges.

“This fix won’t solve every problem for every person but it’s going to help a lot of people,” President Barack Obama said in announcing the change during a White House briefing Thursday. Read the full story here: http://bit.ly/1a8AIFE