White House Says Obama Would Veto GOP Health Insurance Bill

Legislation would allow insurance companies to offer plans at stake because they don't meet Obamacare's requirements

(Reuters)—President Barack Obama would veto a bill sponsored by a Republican congressman that would allow insurers to offer healthcare plans slated to be canceled because they do not meet the new U.S. healthcare law's standards, the White House said on Thursday.

The veto threat came hours after Obama, under fire for the botched roll-out of his signature domestic policy achievement, said health insurers could extend by at least one year policies that were due to be canceled because they do not comply with new minimum requirements.