Insurance commissioners raise concerns about healthcare fix with Obama

By Roberta Rampton and Lewis Krauskopf WASHINGTON (Reuters) – State insurance commissioners told President Barack Obama on Wednesday that his effort to stem a wave of insurance cancellations caused by his signature healthcare law could lead to higher premiums. Obama met with representatives from the National Association of Insurance Commissioners to discuss the "fix" he came up with last week to calm the uproar surrounding millions of cancellation notices sent to holders of individual health insurance policies no longer legal under the healthcare law, known as Obamacare. While taking responsibility for the troubled rollout of his law and apologizing for the promises he made that were not being kept, Obama sought last week to address the problem of canceled plans by giving insurers the option to extend them By one year, even if they did not meet minimum standards under the law. While individual state commissioners have no legal obligation to go along with Obama's wishes, the White House move effectively put the onus on them for cancellations caused by the administration's law.