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Health Net, Molina to offer plans on California exchange, LA Times says

Health Net (HNT) and Molina Healthcare (MOH) were two of the health insurers selected to offer plans on the state's healthcare exchange, according to The LA Times. The companies selected agreed to reduce their profit margins to 2%-3%, the newspaper added. The exchange, which is slated to begin operations next year, is mandated by Obamacare.