You can watch it live here.

Obama can not compel insurance companies to reissue cancelled plans, and he knows this. This is a scam to try and divert the outrage towards the insurers.

Couple of questions: How are the millions who have already received cancellation notices going to get their plans back? Do they have to re-apply? Are the insurance companies going to wave a magic wand and void the cancellations? What about the people who already bought a new plan?

On the bright side, since this is an administrative and not legislative fix, Democrats can’t campaign on having voted to fix it.

Via NBC news:

President Barack Obama announced a fix to the vexing problem of cancelled health insurance policies Thursday, saying insurers don’t have to cancel plans next year just because of the Affordable Care Act.

Insurers can continue the plans for 2014 on two conditions — they have to tell people just what their plans don’t cover, and they have to tell people that they do have the option of going onto the health insurance exchanges to buy new plans with federal government subsidies and perhaps even to go onto Medicaid.

“Insurers can offer consumers the option to renew their 2013 health plans for 2014 without change, essentially allowing consumers to keep those plans,” a senior White House official said, speaking on condition of anonymity.

Update: Thanks Captain Obvious!