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PreferredOne, insurer with lowest rates and most customers on MNsure, pulls out of exchange

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ST. PAUL, Minnesota — The chief executive of Minnesota's health insurance exchange says he's received no indication that any of the four remaining health plans in MNsure are considering an exit.

MNsure CEO Scott Leitz spoke to reporters Tuesday after PreferredOne, the insurance company that grabbed the most customers on the exchange by offering the lowest rates, said it's pulling out.

PreferredOne had 59 percent of the individual market on MNsure as of Aug. 6.

Leitz says he can't comment on whether premiums will rise as a result.

But Leitz and MNsure board chairman Brian Beutner painted PreferredOne's exit as proof that MNsure is working as a competitive marketplace, because PreferredOne made its own business decision to bow out.

Beutner says having the lowest rates made it understandable that staying in was unsustainable.

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