Most of what the administration are calling "junk" policies are actually catastrophic-care policies. Those have for many years been popular among responsible younger people. A healthy, single 24-year-old pays very little for such coverage. Basically he is self-insuring for any checkups he wants, and against the chance of breaking his collarbone in a pickup ball game. BUT, if he develops cancer or gets a head injury from falling off his motorcycle, he's covered. Those people who were unfortunate enough to have to collect on their policies are those who are now getting cancellation notices, even though the costs of their conditions may not have gone away.
Z, I've seen such people profiled on all the major news channels; they most definitely do not exist merely in someone's imagination. Similarly, the many elderly and infertile who are being required to carry maternity coverage exist.
Obama did not "lie" in the same sense as many presidents who said one thing and then did something else. He said something KNOWING AT THE TIME that for the system to work it would have to require some people to pay for coverage they did not need, did not want, and would never use --- in order to cover the cost of expanding coverage to others. That such would have to be the case should have been obvious to everyone, and was obvious to many, but those who pointed it out were either ignored or reminded that the president had promised it wasn't so.