President Obama: 'I am Sorry' Americans are Losing Their Health Insurance Plans [Video]

President Barack Obama gave a public apology Thursday to the millions of Americans whose insurance plans are being canceled due to his signature health care overhaul after he said repeatedly they could keep their coverage if they liked.

"I am sorry that they are finding themselves in this situation...based on assurances they got from me," Obama said in an exclusive interview with NBC News.

"We've got to work hard to make sure that they know we hear them and that we're going to do everything we can to deal with folks who find themselves in a tough position as a consequence of this," he added.

Obama's comments come days after he attempted to clarify what he meant when he assured Americans in previous years that they would be able to keep their plans under the Affordable Care Act, a controversy that has become a new line of attack for Republicans and opponents of the law, reports the Washington Post.

During the NBC interview, Obama defended the law explaining that many of the people now receiving cancellation notices were in "subpar plans" and would probably benefit from new options once they sign up on HealthCare.gov.

"The majority of folks will end up being better off, of course. Because the website's not working right, they don't necessarily know it right" now, he said. "Keep in mind that most of the folks who . . . got these cancellation letters, they'll be able to get better care at the same cost or cheaper in these new marketplaces."

Insurance companies are dropping their clients for a variety of reasons. Some insurers began discontinuing coverage for some of the 12 million Americans who buy individual policies on the private market because they don't meet Obamacare requirements for more comprehensive care.  Some are pulling all their plans from certain states where they have fewer subscribers in order to save money, states CNN.   

Watch the interview below: