President Announces ACA Delay

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Washington, D.C.
President Barack Obama says he hears Americans who are upset about losing their health insurance "loud and clear" and is offering a fix.

Obama Thursday announced that insurance companies can keep offering consumers plans that would otherwise be cancelled.

The president noted that the first-month enrollment numbers in health care plans under his law are lagging and he isn't happy about it. He said that "we fumbled the roll-out" of the program. And he vowed to build a better health care system for every American and "get it right."

The administrative changes are good for just one year, though senior administration officials said they could be extended if problems with the law persist.

Mississippi Insurance Commissioner Mike Chaney says
Mississippi took steps several months ago to ensure that these reforms would have initial minimal impact on policyholders in the state.

"We allowed and encouraged the carriers to extend their plan years and coverage periods until December, 2014, allowing our citizens to keep their existing coverage with minimum rate increases and with more choices," said Chaney.

Chaney said he doesn't expect the president’s announcement to have any major impact on Mississippi.

However, Chaney said it's possible that in the long run these reforms will have a major impact on the solvency of companies and might be a major cost to the industry, thus driving up prices over time.