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Obama to announce O-Care fixes

President Obama on Thursday will offer a proposal for people who have lost their health insurance plans because of ObamaCare, according to House Minority Leader Nancy Pelosi (D-Calif.).

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The White House said Obama will make a statement on the Affordable Care Act at 11:35 a.m.

Neither the White House nor Pelosi offered any details on what the president would say.

Millions of people have received notices that their plans have been canceled under ObamaCare, which places certain minimum requirements that insurance plans must offer their customers. A report in Forbes said 4.8 million people have received cancellation notices.

Obama repeatedly said that people would be able to keep their existing plans under ObamaCare. His promises have turned the canceled plans into a serious political problem for his party, and one on which Republicans are seeking to capitalize.

House Republicans have scheduled a Friday vote on a bill written by Rep. Fred Upton (R-Mich.) that would allow insurance companies to offer their old insurance plans.

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