The President said the health care law creates insurance marketplaces that foster competition and choice. He said California's recently announced rates are lower than expected.
"In states that are working hard to implement this law properly, we're seeing it work for people, for middle class families, for consumers. Now, that's not to say everything's going to go perfectly, right away," the President explained.
Not all Californians will see lower rates under the law. The Director of California's Exchange, Peter Lee said some people will see their rates going down next year, others will see them go up.
"The thing that they can know for certain though is starting next year, the plans they get are going to be real plans without the gimmicks and gotchas that are out there today," the President said.
Blue Shield of California will offer coverage throughout the state. It said health premiums will go up an average of 13 percent for individuals next year, some of that is due to a growth in health care spending.
