Insurers Say Obamacare Fix Could Cause Even More Problems

Destabilization and higher rates

President Obama's proposal to help people keep their existing health plans for a year could cause marketplace chaos, according to the nation's largest trade group for insurance companies.

America's Health Insurance Plans (AHIP) President and CEO Karen Ignagni also said the plan could hit consumers.

"Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers," she said.

The president's proposal seeks to quell the growing outcry over millions of insurance plans canceled under ObamaCare — despite the president's promise that if you like your healthcare plan you can keep it