President Obama announced today that Americans will not be losing their existing health plans under the ACA for another year. Insurance companies that have been sending out cancellation notices will need to reinstate policies. Americans will also be able to keep plans that don’t meet all the requirements of the new law such as prescription drug coverage. Obama admitted that the rollout was not as expected but that come January, more than 500,000 Americans will have health insurance, some for the first time ever.
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