Las Cruces, N.M. - U.S. Rep. Steve Pearce released the following statement following the announcement by Blue Cross Blue Shield (BCBS) that it is withdrawing from participation in the New Mexico Healthcare Exchange, affecting thousands of individual New Mexicans and families who depend on it for coverage.

"Blue Cross Blue Shield's (BCBS) departure from the New Mexico healthcare exchange is a tremendous blow to the healthcare and finances of families across the state," stated Pearce. "Starting in November, regardless of how satisfied they are with their coverage and how well it serves their individual families, the 35,000 New Mexicans currently covered by BCBS will be forced to reenter the uncertainty and complexity of the New Mexico Health Insurance Exchange to select a new plan."

"Accounting for roughly 47% of the market in New Mexico, the loss of BCBS reduces plans offered through the exchange, and severely diminishes the choices available through it. While BCBS has reported losses on its individual plans of $19.2 million in the state, due to the demands and requirements of Obamacare, this should not be an excuse to propose an average premium increase of 52% on all individual plans within the exchange. With the largest premium increase of any reported provider, BCBS set an unobtainable line in the sand for the administrators of New Mexico's Exchange to accommodate. I am disappointed that the two sides were unable to work together on a final premium that would allow BCBS's current New Mexico policyholders to keep their insurance, provide continued choice and flexibility, and contain costs for families."

"Touted as healthcare reform that would reduce costs for families on a budget and allow those who like their doctors and plans to keep them, Obamacare has failed to live up to the lofty goals established for it. First we saw the departure of doctors nationwide from coverages offered on the exchange, and now, with the departure of BCBS, we are seeing providers leaving health care exchanges all together. Before the departure of more and more providers from the market, our nation must have a serious conversation about the future of health insurance in this country. We must find solutions that will provide American families with affordable and flexible options, while also ensuring providers have the ability to stay afloat and in the market."