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Obama: You Can Keep Your Health Plan (for a Year)

THURSDAY, Nov. 14 (HealthDay News) -- Bending to political pressure, President Barack Obama on Thursday announced a plan to allow Americans to keep their health insurance plans for another year, even if that coverage would have been cancelled because it fails to meet new rules under the Affordable Care Act.

Under Obama's plan, health insurers may renew health plans that fail to meet the controversial health law's stricter standard, but only for existing customers.

State insurance commissioners will have the final word on which plans can and cannot be sold in their states, Obama said during a White House briefing.

"The bottom line is insurers can extend current plans that would otherwise be cancelled into 2014, and Americans whose plans have been cancelled can choose to re-enroll in the same kind of plan," Obama said.

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