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California Says Obama About-Face on Insurers May Hurt Law

California and New York said the U.S. president’s one-year reprieve for insurance policies that don’t meet the stricter requirements of Obamacare undermines the “risk pool” of patients needed to make the law viable.

California, the most populous U.S. state, will decide this week whether to comply with President Barack Obama’s request, Peter Lee, the executive director of the state’s health exchange, told reporters today. New York also is “still considering the president’s option,” said Danielle Holahan, deputy director of that state’s insurance marketplace.