Pataki: Escape from Obamacare with 'Self Insurance Loophole

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Wednesday, November 6, 2013 01:27 PM

Businesses and their employees may have an escape hatch from many of Obamacare's worst features — the "self-insurance loophole," according to former New York Gov. George Pataki.

With a self-insured healthcare plan, the employer sets aside cash to cover anticipated medical expenses, rather than paying premiums to an insurance carrier to cover its employees. The company may hire an insurance company to manage claims.

Today, more than 60 percent of employees in large corporations, 80 percent of unions, and 15 percent of workers in small businesses are covered by self-insured plans, although many of them don't know it.

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