Insurance Executives Called to White House Meeting

CEOs to meet with President Obama to discuss plan to allow people to keep insurance plans that don't meet new federal standards

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Chief executives from several insurance companies have been called to the White House to meet with President Obama on Friday.

Politico reports that the several insurance company CEOs will ┬ádiscuss a plan with the President to allow companies to keep selling plans that don’t meet the basic standards under Obamacare. In the months before the passage of the Patient Protection and Affordable Care Act in 2010, President Obama said several times, “If you like your insurance, you can keep it. Period.”

As the law has gone into effect this year, millions of Americans health insurance plans were canceled because they didn’t meet new minimum standards stipulated under the law. The cancelations sparked outrage among those affected and gave opponents of the law fresh ammunition to call for changes.

On Thursday, Obama said that insurers can extend current plans; meanwhile, both the House and Senate are taking up bills to address the cancelations.