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

bug


We also have more stories about:
(click the phrases to see a list)

Subjects:

Places:

 


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 a cumulative total of 59 percent of the individual market on MNsure through early August.

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.

All content copyright ©2014 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.