That's all good and well, Flopper, as it applies to what he said prior to his signing the bill in to law. But by the time the bill reached his desk the clause that has caused so much dismay and controversy with regard to keeping your plan was there. If he didn't know about it, what the hell is he doing signing the damn thing? Furthermore, he continued to proclaim that people who were happy with their plan, with their doctor, they would be able to keep them. No caveats, no exceptions. It was a line he continued to use through out 2012 and as recently as Sept. 26 of this year. You will not be able to convince me that, more than three years after signing that POS he didn't know...
Because if he didn't know three years in, he's not as smart as so many claim he is... Or he doesn't have a ******* clue as to what going on around him... Or he was flat out lying to the American people...
No matter how you slice it, it stinks.
There is nothing in the law that forces insurance companies to cancel policies. The law grandfathers all plans that existed prior to 10/23/2010. So when Obama signed the bill into law, everyone could keep their current plan. So he did not lie. However, there is more to story so read on.
The law says plans that are significantly changed after 10/23/2010 can not be grandfathered. At the time the bill became law, significant had not been defined. Later in the year and in 2011 regulations were drafted and requests for comments were sent to insurance companies. After meeting with insurance companies and the IRS, it was determined that most changes to plans such as premiums or even changes required by state law would be considered a significant change thus making the plan inelligble for grandfathering.
Since grandfathered plans could not be sold after 2014 and the plans would have be cancelled or updated sometime in the future, many insurance companies made a business decision to cancel many of the old plans and move people to new a new plan. I doubt Obama knew that insurance companies would be cancelling plans. If so he would have never made the statement after the law was passed because he surely would know that millions of cancellations would be a public relations nightmare.
BTW, anyone who wants individual insurance for 2014 without any of the ACA changes, can purchase a grandfathered plan now. They're listed on insurer web sites with a note that they are not ACA compliant and can not be sold in 2014 but will meet the ACA individual mandate requirement for 2014.