Recapping the day's news and newsmakers through the lens of CNBC.
Struggling to repair Obamacare's image, the White House today announced a reprieve for individuals and members of small group plans in danger of losing existing health insurance coverage because it does not meet the new Affordable Care Act's minimum standards. Under an administrative fix that does not need congressional approval, insurers will be allowed to renew those otherwise substandard plans for one year. Defenders have argued many plans being cancelled were junk insurance that provided poor coverage, but reports of people losing plans they liked have put the heat on the administration, some of it from congressional Democrats.
"As I indicated earlier, I completely get how upsetting this can be for Americans after assurances they heard from me. To those Americans, I hear you loud and clear and today I'm offering an idea that could help."—President Obama