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Feds approve Oregon health insurance exchange

SALEM, Ore. (AP) -- Oregon is among the first six states to get preliminary approval from the Obama Administration to operate a health insurance exchange.

The Centers for Medicare and Medicare Services announced the decision on Monday.

Oregon's insurance exchange is being marketed as Cover Oregon. The federal health care overhaul required all 50 states to have an exchange where small businesses and uninsured individuals can shop for health coverage and access federal subsidies.

Federal officials say Oregon's application was given conditional approval because the state hasn't completed all required actions but will be ready to operate by October.