POLITICS

Washington State Insurance Chief: Obama's Obamacare Proposal Is Not 'A Good Deal'

US President Barack Obama pauses as he speaks on the Affordable Care Act in the Brady Press Briefing Room of the White House
US President Barack Obama pauses as he speaks on the Affordable Care Act in the Brady Press Briefing Room of the White House while reporters do stand-ups on November 14, 2013 in Washington, DC. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)

Nov 14 (Reuters) - The state of Washington will not allow insurance companies to extend individual plans for an additional year as President Barack Obama suggested because it is concerned about how such a move would be implemented and affect costs, the state's insurance commissioner said on Thursday.

Obama said on Thursday that the healthcare reform law will now allow insurers to renew policies by an additional year, extending the deadline for renewals from 2013 until 2014.

"I do not believe his proposal is a good deal for the state of Washington. In the interest of keeping the consumer protections we have enacted and ensuring that we keep health insurance costs down for all consumers, we are staying the course," insurance commissioner Mike Kreidler said in a statement. (Reporting by Caroline Humer and Lewis Krauskopf; Editing by Gary Hill)

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