President Barack Obama is expected to announce that individuals with insurance policies that are being canceled because they do not meet Obamacare’s standards will be allowed to renew them, sources told NBC News. But that insurance companies will be required to tell people re-enrolling about alternative options and the benefits they will lose.
Obama, under pressure from Democrats facing angry calls from people who have lost their health insurance plans, will deliver a statement on Obamacare at the White House at 11:35 am ET, the White House said.
CNBC.com will be streaming the event live.
(Read more: Democrats threaten to abandon Obamacare)
As of Wednesday, just over 106,000 people nationally signed up for Obamacare health insurance plans in the first month of sales, according to the latest figures from federal officials. And only 26,000 of those individuals went through the HealthCare.gov site.
(Read more: Obamacare rollout numbers worse than feared)
Top government technology officials told an acrimonious congressional hearing Wednesday that they expected the website to be working smoothly by the end of the month as planned.
“We have much work still to do, but are making progress at a growing rate,” Todd Park, the chief technology officer at the White House, told the Republican-led House of Representatives’ Oversight Committee.
—By Reuters, with CNBC.com