It is unlikely consumers could sign up for these plans during the 2018 open enrollment period, which begins November 1.
"With Congress the way it is, I made a decision to take it upon myself", the president told reporters this week, saying he'll sign something "which is going to go a long way to take care of the numerous people that have been so badly hurt on health care".
"I'll also be signing something, probably this week, which is going to go a long way to take care of numerous people that have been so badly hurt on healthcare", Trump told reporters in the Oval Office. The regulations imposed by his health care law were causing some insurance plans to be canceled.
President Trump pointed to the premium hikes a guest of his at the White House Tuesday was facing as his reason to "do something" about the Affordable Care Act - a move that may come in an executive order as soon as this week.
Senate Republicans attempted to use a procedure known as budget reconciliation to dismantle Obamacare because they would need only 51 votes to pass a bill with Vice President Mike Pence able to break a tie.
The order is being drafted, as President Trump expressed his willingness to work with Democrats on health care after Republicans were unable to approve legislation that would have repealed and replaced "Barack Obamacare".
"That's one thing I think conservatives are taking solace in right now - there are some great conservatives running in 2018", Pye said.
"We will have to do something with Obamacare because it's failing", he said, gesturing to his 94-year-old guest. Also, these plans have a long history of financial troubles, with some becoming insolvent.
It would also expand the amount of time people can use short-term medical insurance plans, which are cheaper than traditional plans but cover a limited set of benefits. However, if these plans are not subject to Obamacare rules, this could mean that healthy people can band together to purchase insurance off of the marketplace at a lower cost, but those with pre-existing conditions would only be able to buy insurance through the Obamacare marketplace - since they would only be offered protections for their pre-existing conditions via marketplace plans.