ALBUQUERQUE (AP) — Officials with Presbyterian Health Plan say the insurance company will no longer offer individual and family plans on the Affordable Care Act marketplace in New Mexico starting next year.
The Albuquerque Journal reported Monday that Presbyterian has sent letters to members notifying them of the changes.
The decision to stop offering coverage will affect 10,000 exchange members, 80 percent of whom now receive federal subsidies.
Presbyterian officials say patients who purchased on the exchange used medical services 30 percent more than other patient groups off the exchange.
In January, Blue Cross Blue Shield of New Mexico stopped offering individual insurance plans through the state health exchange.
Company officials say it lost $19.2 million in 2015 on the 35,000 individuals covered by plans they purchased on and off the exchange.