NBC News is reporting that the Obama Administration knew for at least three years that millions of Americans would see their current health insurance plans canceled under the Affordable Care Act, despite promises that people who liked their health insurance plan would be able to keep it.
Sources tell NBC News that 50-to 75-percent of 14 million Americans who buy private health insurance can expect to receive a cancelation letter over the next year because their current policies don t meet the standards under the new health care law. They also say Americans who are forced into new policies will find they are more expensive.
Insurance plans obtained through an employer remain unaffected.
According to the report, the law states that policies in effect as of March 23, 2010 would be grandfathered in, which means consumers would keep their policies even though they didn t meet the requirements of the new law. But regulations were then written into the law which said that if any policy was significantly changed after that date, the policy would not be grandfathered.
Read the full investigation at NBCNews.com.