Congressmen start cracking, breaking with the white house . Change their minds, go against obama care. Sue is down at the nyse. Hi. Hi. We begin with breaking news, but not here at the nyse. At the nasdaq. Seema moody is there with the latest on trading glitches and halts earlier today. Whats the latest . Sue, the nasdaq indexes have resumed trading after an unusual halt where the nasdaq composite, the nasdaq 100 among other nasdaq specific indexes were not updating. Stocks on these indexes were not impacted. The nasdaq says it was an issue with its Global Index Data Service 2. 0. Apparently this feed experienced a brief disruption of service, but since then, has recovered. The nasdaq says it continues to investigate the issue. Again, no Equity Exchange operations have been impacted but this is still something that traders are watching, especially in the options market. Sue thats the latest. Seema, thank you very much. We turn to obama care now because it is taking center stage on capitol hill today. The administrator of medicare and Medicaid Services testifying before paul ryans House Committee on ways and means. Bertha coombs monitoring that Committee Hearing all day. Where do we stand . It just ended at at the top of the hour. Marilyn apologized for the rocky rollout in her Opening Statement but didnt keep her from getting grilled. At times on the failings of the website but republicans on the committee more often hammered her on the issue of insurers dropping plans in the individual market because of obama care rules. She repeatedly insisted its the insurers decision. Do you know if its true, as the president has said and Many Democrats have said, if you like your Health Care Plan, you can keep it. Is that a true statement . There were Health Care Plans that were grandfathered in. Is that a true statement. It is a true statement. Some congressmen telling her thats a lie. Some democrats went on the offensive like bill pass ka rel who stood up to defend parts of obama care like mandatory coverage with preexisting conditions, leading to a ts testy exchange. Youre going to tell the parents of those kids which one of you is going to stand up and tell the parents of those children the game is over, sorry, that was just a phase. Gentleman yield . Yes, i will. Its a false choice to say its obama care or nothing. There are numerous proposals including the one that im a cosponsor off. I yield back. Take back the time sir. Let me take the time back. Are you serious what you just said . Are you really serious . After what we have gone through and what weve gone through in the last three and a half years . Have you you can sit there and say, that you had a legitimate alternative after these years . Weve gone through 44 votes. 48 votes now. Of you trying to dismantle the legislation. You call that cooperation . Well, marilyn tavernner was being questioned, republicans taking aim at the white house with their questions today. Tyler this is just the warmup act. Bill going back to the neighborhood in patterson, new jersey where he comes from, bringing a little patterson. Scrappy. Thanks very much. Nbc news chief investigative correspondent lisa myers broke a story on cnbc. Com on how president obama knew that millions of people would, in fact, lose their health care coverage, once his plan went into effect. This comes despite numerous statements to the contrary. If youve ever tried to buy insurance on your own, i promise you, this is a lot easier. Its like booking a hotel or a plane ticket. Youre going to be able to choose your doctor and not have to go through some network in an emergency situation. If americans like their doctor they will keep their doctor and if you like your Insurance Plan you will keep it. If you like your current plan, you will be able to keep it. If you like your doctor, you will be able to keep your doctor. Period. Lisa myers reports that half to 75 of the 14 million americans who have bought insurance individually will actually see cancellation letters in the next year because those plans dont measure up to the standards embedded in the Affordable Care act. So that brings us to a cnbc obama care fact check. Michele carew usocabrera back again. Talk about the obvious when you highlighted the promise made if you like your plan you can keep it. Nbc news Investigative Unit reporting millions of americans who purchased individual plans are finding that is not true. They are getting cancellation letters saying their individual plan does not meet the new standards. Nbc News Reporter lisa myers says the white house knew for years this promise would not be true because the way the regulations were finally written, many individual policies would not be grandfathered in as originally planned and as the president reiterated on february 25th of 2010. Any insurance that you currently have would be grandfathered in so you could keep. And so you could decide not to get in the exchange the better plan, i could keep my acme insurance, just a high deductible catastrophic plan, i would not be required to get the better one. More affordable coverage is the other promise made. All over whitehouse. Gov to this day, right now you can look, not only does it say you can keep your plan, there are repeated references to more affordable coverage. Once again, nbc newss Investigative Unit reports millions of buyers of plans are finding out that will not be true. At cnbc. Com you can read about people who have seen their premiums double, triple, quadruple to pay for the increased coverage requirements. Yet, heres what the president said. Again, february 2010. If i chose to get the better one, it would be 14 to 20 cheaper than if i were going into the individual market. I just wanted to clarify that. For the poor, the costs will be lower because of subsidies. But the white house website to this day makes it sound like everyone will get affordable coverage. Number three, you cant be denied because of a preexisting condition and you cant be dumped by your insurance company. Those are going to be true. Theyre being used today during the hearings as justification for one and two. People once they can sign up for plans, they dont necessarily if they have a preexisting condition, they wont be denied. Keep in mind, tyler, this is why more affordable coverage doesnt necessarily turn out to be the case. Has the president addressed the question of these statements where he said if you have a plan you can keep it, doctor, you can keep him or her . Has he addressed why he came to say those things . Not at this point. Its been weve heard the hearing today where the woman any idea what he meant when he said it . Did he mean it literally to be that . He said it so often tyler, if you like your plan you can keep it. No one will take it away from you, period. I mean, taking that out of context . I dont know. It sounds like theres explaining that needs to be done here to explain what exactly he was saying when he said those things. Repeatedly. I think its selfevident. Pretty clear to me on the surface. While americans thank you very much. I beg your pardon. Americans wrestle with what to do we have found several people already caught up in the mess. Lets hear from them directly. Listen in. Obviously by now we all know that what we were promised in the plan is really not what were getting. We were supposed to get cheaper plans with better coverage and in reality, particularly at least in my case, im getting a lesser plan because i very well may not be able to keep my doctors or drug formulary and im paying 65 more for the privilege. They gave me until november 1st, which is only a few days away, to make up my mind if i wanted to try something get another plan, but the problem is, the website is down until the end of november. John harwood at the white house today. John, be the question for you, is there going to come a point where some of the democrats who have been Standing Firm alongsides the president in defending obama care will begin to peel away and see this is not a good deal for them politically . Sure. There could come that point, especially if they cant get these exchanges working right. Thats really the key question, can they, in fact, get the website up by november 30th as theyve said, in time for people to buy the coverage that law requires them to have in 2014. If they cant get that working, and people cant get that coverage, that is a betrayal of the core promise of obama care and that would be the point at which you would see democrats peeling off. I think this is a problem, the one you and michele were discussing and the white house was telling a part of the truth, not the whole truth, and they set out by design to change the individual market and the president didnt really love with people about what was going to happen on that market because a whole lot of changes have come to pass. In response to your question earlier, tyler, i think the predominance of what the president was talking about, employer based coverage as most americans do, you would be able to keep that unless the employer dropped it. That is the case. Those of us at nbc or other Large Companies who have Health Insurance, this, the obama care new rules dont affect us because our plans meet those rules. It was by design they raise the standards in the individual marketplace, knowing that that would take a lot of the plans inexpensive with high deductible that essentially served the interest of Young Healthy people because middle hp aged and not Healthy People cant buy them, that was done on purpose and didnt tell the whole truth about it. Yeah. It sounds to me like what he was saying there was far more absolute and less nuance than if you have a corporate plan youre right. Your company is paying for, youre going to be able to keep, and your coverage, you will be able to keep it. Youre right about that. His statements seem to be broad, if you have insurance you like you can keep it. I wonder if the white house is going to come out or hes going to have to come out and explain those statements more directly . Theres no question hes going to have to do that. Jay carney is going to brief in a few minutes. Hes going to get hammered with these questions. This is a case the white house did not prepare the American People for what their vision of the law was going to be and now that it is colliding with the poor rollout of the nonfunctional website, this entire thing is looking like a mess and they have to fix it. If they cant fix it, were not going to have the law. John harwood, thanks very much. We have had one person at cnbc today dedicated to getting a comment or a representative from the white house to come on and talk about obama care. He sent three emails and three calls and the white house got back to us about 20 minutes ago saying that no one was availablep for our air time. We should note over the past three weeks the white house has approached us twice about having Senior Communications adviser david see miss on power lunch to talk about obama care and we did have him on both of those times. Bertha coombs back with us. How is this playing out with the insurers because the insurers have a big stake in this. The insurers basically bought into the idea that they were going to have 35, 40 million new customers to whom they could sell insurance. They bought in cautiously kind of anticipating that things were not going to go smoothly and today really insurers are trading lower, aetna reported disappointing results and cautious about 2014. The insurance giant missed on the bottom line posting earnings of 1. 50 a share, despite reporting revenues slightly ahead of expectations. Among the drags higher medical costs in medicare business in particular due in part because of government funding cuts. Ceo mark bert linney didnt expect to see an increase in individual enrollment next year which is interesting because he and aetna is on 17 of the exchanges that are on the federal exchange. Wellpoint on a dozen of them. All trading lower and hit by this issue of higher medical loss ratios. United is the outlier today and united is the most cautious of all. Been the one thats held back the most. Theyve held back. Only on a handful of state run exchanges. Dont have any exposure on the federal exchange. Thanks very much. Thanks for your good work on this. Dan mangan covers health care for cnbc. Com. You know, dan, i sense there is, obviously, a growing level of outrage here. I think people feel like they were based and now switched. Yes. Absolutely they were. You play these clips repeatedly, the president , there is no nuance there. He said if you want to keep your plan you can. You clearly cant. I think all the explanations are trying to gilled a sour or stale lily right now. There is the matter of the socalled cadillac plans that i dont know whether comcast, the owner of cnbc, has a cadillac plan, but these are comprehensive, he expensive. Lot of benefits. Gold level benefits. Now whats going to happen to those cadillac plans . Something is happening to them now. Theres going to be an exercise tax that kicks in 40 now, on any benefits, premiums paid over 10,200 for individuals, 27,500 for families. So that exize tax kicks in four years from now. Employers are shifting costs to the covered people to employees like ourselves and making them pay more in anticipation of that exized tax kicking in. If the net cost, in other words, to the company is greater than that 10,200 or whatever it is pays 40 on top of that. The employer pays that. They would figure in the costs they pay to the insurer to cover me. Thats right. And figure in or reduce that amount by the amount that i pay per month. One way to address it. That i pay in typical deductions. Overall trend in the industry to shift costs to the employee. We know that. And this is exacerbating that. This is happening for years in the private sector. You know, in fairness to the administration, an effort to contain costs to make people aware of what theyre paying for. One of these things, goes back to the question of whether a Health Care Plan ought to be considered income to the recipient or not . Well thats another reason, yeah, this goes back to an anomaly where you dont get taxed we dont get taxed on our benefits. They the costs. Every other form of compensation gets taxed and this is an anomaly. What congress is saying, well spot you the first 10,000 and not include that as tax but anything above that amount for an individual, would be subject to this exize of 40 . Again, its not only a question of income tax or tax, its a question of containing costs on the back end to make sure that people are not getting willynilly tests they dont need. Ive gone 40 over the time allotted to this. Im going to get scolded, spanked. Down to you. Lets go to dominic chu for a market flash. Activist investor star is asking semiconductor to consider selling or restructuring its mobile amplifier business which it says is dragging down the chip price. Star board value said the company should focus on networks and defense units like skyworks solutions. The mobile power amplifier business accounts for 65 of the companys revenues. Triquint not a immediately available for comment. Nickel and diming your way to record revenues. The airlines masters at that, right, phil . Sue, in the last three years the airlines have practically doubled their ancillary revenue take. What will surprise you is just how much theyre collecting this year. Sue . That straight ahead. And wild weather take a look at this. This is whipped up 100 foot wave and for two surfers, it proved just too much to resist. It did not end, however, with cheers of totally awesome. That straight ahead. Thats a 100 foot wave. Back in a minute. Clients are always learning more to make their money do more. ann to help me plan my next move, i take scottrades free, inbranch seminars. Plus, their live webinars. I use daily market commentary to improve my strategy. And my local scottrade Office Guides my learning every step of the way. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer ranked highest in Investor Satisfaction with selfdirected services by j. D. Power and associates. Welcome back to power lunch. We completed at the top of the hour 35 billion auction of fiveyear notes. I gave it a cplus. Where you looked it was average. The plus where did the plus come from . Priced within the bid offer of the one issued market right before 1 00 eastern. As you look at the charts whether its a one day or two day, you can see the fiveyear hasnt had a lot of movement. Three basis points low to high range over two days but when you open the chart up this is the curve and it is hovering at the lowest yield should it close here since 19th of june. But the big award today for volatility goes to the euro. Before 11 00 eastern, governing Council Member new watney said im paraphrasing looking for a negative deposit rate or lowering the main rate to hurt the euro which is too strong you have to look elsewhere and it took a ding out of the euro versus many of the major currencies including the dollar. Sue, back to you. Thank you very much. Check out the Airline Stocks because they have been soaring, no pun intended. Its not just their stock price flying high. The revenution hitting record highs as well. However theres a catch. Phil lebeau is here with what that catch is. Over to you, phil. Sue, were obviously paying more in terms of fees and the ancillary Revenue Growth for the airlines is staggering. Tracks this and look at the growth over the last three years. It was just 22 billion worldwide in 2010. This year, the Airlines Worldwide are expected to bring in 42. 6 the greatest region is here in north america. Well ahead of their counterparts around the world. Major u. S. Airlines collecting 14. 3 billion in ancillary revenue this year with bag fees now bringing in more than 10 billion worldwide and oh, by the way, the airlines are looking for new ways to actually make you pay for checking that bag. When you charge tickets to a credit card, in effect, the bank has entered into a relationship with the airline to cover those fees. So theres more finessing going on in terms of bag fees. So ther