Company Website:
http://www.healthnet.com
LOS ANGELES -- (Business Wire)
Health
Net, Inc. (NYSE:HNT) today announced that members of its management
team are scheduled to present at the Goldman Sachs Healthcare CEOs
Unscripted Conference on January 6, 2015, at approximately 1:00 p.m.
Eastern time.
A live webcast and replay of the presentation will be available at www.healthnet.com
under “Investor
Relations.” The webcast is open to all interested parties. The
webcast should be accessed at least 15 minutes prior to its start time.
Anyone listening to the webcast will be presumed to have read Health
Net’s Annual Report on Form 10-K for the year ended December 31, 2013,
Quarterly Reports on Form 10-Q for the quarterly periods ended March 31,
2014, June 30, 2014, and September 30, 2014, and other reports filed by
the company from time to time with the Securities and Exchange
Commission.
About Health Net
Health Net, Inc. is a publicly traded managed care organization that
delivers managed health care services through health plans and
government-sponsored managed care plans. Its mission is to help people
be healthy, secure and comfortable. Health Net provides and administers
health benefits to approximately 5.9 million individuals across the
country through group, individual, Medicare (including the Medicare
prescription drug benefit commonly referred to as “Part D”), Medicaid,
U.S. Department of Defense, including TRICARE, and Veterans Affairs
programs. Health Net also offers behavioral health, substance abuse and
employee assistance programs, managed health care products related to
prescription drugs, managed health care product coordination for
multi-region employers, and administrative services for medical groups
and self-funded benefits programs.
For more information on Health Net, Inc., please visit Health Net’s
website at www.healthnet.com.
Cautionary Statements
The company and its representatives may from time to time make written
and oral forward-looking statements within the meaning of the Private
Securities Litigation Reform Act (“PSLRA”) of 1995, including statements
in this and other press releases, in presentations, filings with the
Securities and Exchange Commission (“SEC”), reports to stockholders and
in meetings with investors and analysts. All statements in this press
release, other than statements of historical information provided
herein, may be deemed to be forward-looking statements and as such are
intended to be covered by the safe harbor for “forward-looking
statements” provided by PSLRA. These statements are based on
management’s analysis, judgment, belief and expectation only as of the
date hereof, and are subject to changes in circumstances and a number of
risks and uncertainties. Without limiting the foregoing, statements
including the words “believes,” “anticipates,” “plans,” “expects,”
“may,” “should,” “could,” “estimate,” “intend,” “feels,” “will,”
“projects” and other similar expressions are intended to identify
forward-looking statements. Actual results could differ materially from
those expressed in, or implied or projected by the forward-looking
information and statements due to, among other things, health care
reform and other increased government participation in and taxation or
regulation of health benefits and managed care operations, including but
not limited to the implementation of the Patient Protection and
Affordable Care Act and the Health Care and Education Reconciliation Act
of 2010 (collectively, the "ACA") and related fees, assessments and
taxes; the company’s ability to successfully participate in California’s
Coordinated Care Initiative, which is subject to a number of risks
inherent in untested health care initiatives and requires the company to
adequately predict the costs of providing benefits to individuals that
are generally among the most chronically ill within each of Medicare and
Medi-Cal and implement delivery systems for benefits with which the
company has limited operating experience; the company’s ability to
successfully participate in the federal and state health insurance
exchanges under the ACA, which in the past have experienced technical
challenges in implementation and which involve uncertainties related to
the mix and volume of business that could negatively impact the adequacy
of the company’s premium rates and may not be sufficiently offset by the
risk apportionment provisions of the ACA; increasing health care costs,
including but not limited to costs associated with the introduction of
new treatments or therapies; the company’s ability to reduce
administrative expenses while maintaining targeted levels of service and
operating performance, including through the company’s master services
agreement with Cognizant; whether the company receives required
regulatory approvals for Cognizant’s provision of services to the
company and any conditions imposed in order to obtain such regulatory
approvals; the company’s ability to recognize the intended cost savings
and other intended benefits of the Cognizant transaction; and the risk
that Cognizant may not perform contracted functions and services in a
timely, satisfactory and compliant manner; negative prior period claims
reserve developments; rate cuts and other risks and uncertainties
affecting the company’s Medicare or Medicaid businesses; trends in
medical care ratios; membership declines or negative changes in the
company’s health care product mix; unexpected utilization patterns or
unexpectedly severe or widespread illnesses; the timing of collections
on amounts receivable from state and federal governments and agencies,
including collections of amounts owed under the T-3 contract; litigation
costs; regulatory issues with federal and state agencies including, but
not limited to, the California Department of Managed Health Care and
Department of Health Care Services, the Centers for Medicare & Medicaid
Services, the Office of Civil Rights of the U.S. Department of Health
and Human Services and state departments of insurance; operational
issues; changes in economic or market conditions; failure to effectively
oversee the company’s third-party vendors; noncompliance by the company
or the company’s business associates with any privacy laws or any
security breach involving the misappropriation, loss or other
unauthorized use or disclosure of confidential information; impairment
of the company’s goodwill or other intangible assets; investment
portfolio impairment charges; volatility in the financial markets; and
general business and market conditions. Additional factors that could
cause actual results to differ materially from those reflected in the
forward-looking statements include, but are not limited to, the risks
discussed in the “Risk Factors” section included within the company’s
most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q filed with the SEC and the other risks discussed in the
company’s filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements. Except as may be required
by law, the company undertakes no obligation to address or publicly
update any forward-looking statements to reflect events or circumstances
that arise after the date of this release.
Contacts:
Investor Contact:
The Abernathy MacGregor Group
David
Olson, (818) 917-1469
dwo@abmac.com
or
Media
Contact:
Health Net, Inc.
Brad Kieffer, (818) 676-6833
brad.kieffer@healthnet.com
Source: Health Net, Inc.
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