Despite President Obama's declaration that "if you like your health plan, you can keep it" regarding his signature health-care overhaul in the Affordable Care Act, that turned out not to be the case for a few million Americans. Those individuals, whose cheap bare-bones policies no longer met Obamacare's higher coverage standards, were to be put in more robust, and consequently more expensive, plans.
However, after some fallout, the Obama administration reversed course, and earlier this week, the U.S. Department of Health and Human Services announced a few changes to the Affordable Care Act, one of them being the extension of these previously voided plans for two years.
In this segment from Friday's Market Checkup, Motley Fool health-care analyst David Williamson discusses the ramifications of that and other changes to the Affordable Care Act legislation announced this week. He discusses how this will affect several of the major insurers, just how difficult these changes may be to roll out, and where the hiccups may be along the way.