CNN reports Obama to push administrative fix for insurance cancellations

(CNN) - President Barack Obama will lay out an administrative solution to address the problem of people getting cancellation notices from their health insurance providers, a senior Democratic source familiar with the plan tells CNN's Chief Congressional Correspondent Dana Bash.

Obama will deliver remarks at 11:35 a.m. ET in the White House Press Briefing Room, the White House announced Thursday morning.

The plan will in part call for insurance policies to be renewed for one year for those who already have insurance policies in the individual market, the source said.

Also, the source added, insurance companies will be required to notify policyholders of alternative coverage and what benefits they would be losing by keeping their existing plan.

When selling Obamacare, the President repeatedly assured Americans they would be able to keep their plans if they liked them. However, many Americans have been getting dropped from their providers because their existing policies don't work with the new regulations.

Obama has since apologized for people losing their coverage and pledged to find a solution.