President Obama announced in a speech from the White House today that Americans can keep existing health insurance policies for an additional year while insurance companies and customers adjust to the regulations of the Affordable Care Act. 

Millions of people across the country have been receiving cancellation notices from their insurance companies, and the president says that this has deeply concerned and upset him -- especially after his promise of "If you like your plan you can keep it" -- and he said he had been searching for a solution.

President Obama proposed that insurance providers extend coverage through 2014 to those who lost coverage.

"This fix won't solve every problem for every person" but it will help many, the President said at the White House. "We are going to do everything we can to help Americans who've received these cancellation notices."

It is unclear whether the insurance industry will go along with the plan.  

The announcement came as fellow Democrats, including former President Bill Clinton, have been urging Obama to review the law and make changes.

Obama's announcement came just one day after the Health and Human Services Secretary Kathleen Sebelius announced that only 26,794 people have enrolled for Obamacare on through

About 106,000 people selected a health plan under the Affordable Care Act in October, but about 79,000 people enrolled through individual state exchanges -- which each have their own websites.

California's exchange Covered California enrolled about 35,000 people in October, and more than 60,000 to date.

Issues with the health care system are taking a toll on the president’s popularity and approval ratings.

Obama began his speech this morning by taking a moment to reflect on the tragedy that struck the Philippines when Typhoon Haiyan hit late last week. The president encouraged Americans to help however they can. 

RELATED: Customers Ability to Renew Cancelled Plans Up to Covered California

Hear the complete speech: