Calif. Rejects Obamacare Insurance Extension Fix

If you like your health plan, tough

California's health insurance exchange voted Thursday to not allow insurance companies to extend policies that do not meet current benefit requirements under ObamaCare, despite President Obama's "fix" last week.

The Covered California Board of Directors unanimously decided to stick with its current approach of phasing out the non-compliant policies by year's end, saying Obama's request that insurers let Americans keep those plans through 2014 will not help consumers in the end.

"The board cited that extending the deadline offers no benefit to the consumer and may create confusion about accessing affordable health care coverage through Covered California," it said in a press release.

One board member said Obama's "fix" is not the solution to the problem of millions losing their health plans under the health care overhaul, saying the plan only delays the inevitable.