New contract includes an extensive network of primary and specialty care providers

Company Website: http://www.healthnet.com
PHOENIX -- (Business Wire)

Health Net of Arizona, Inc. and Banner Health Network have entered into an agreement that will allow Health Net Medicare Advantage beneficiaries to continue accessing excellent patient care through an extensive network of providers and the Banner Health Network facilities in Maricopa County and Pinal County.

During the 2015 plan year, these beneficiaries will continue to have access to Banner Health Network’s fully integrated health system that allows for a coordinated care experience in a variety of care settings – from preventive screenings and wellness visits to hospital care, rehabilitation and skilled nursing services. Secure communication tools allow participating Banner Health Network primary care and specialist providers to access and share health data for more efficient and effective care. Beneficiaries with a chronic illness or new diagnosis are supported through educational classes and a nurse case manager to help them manage their ongoing health needs. Beneficiaries who become seriously ill, and have difficulty getting to regular medical appointments, may qualify for the Banner iCare program giving them 24-hour access to medical support through easy-to-use technology installed in their home.

“We are thrilled to continue to offer our Medicare Advantage beneficiaries access to Banner Health Network’s services and its team of highly skilled medical staff,” said Rose Megian, president and CEO of Health Net of Arizona. “Banner Health Network is regarded and recognized as a top health system in the country for the clinical quality its doctors consistently provide to patients.”

“At Banner Health Network, we are pleased to continue our long-standing relationship with Health Net and offer continuity of care to the Medicare Advantage beneficiaries that our providers are currently serving as part of this plan,” said Chuck Lehn, chief executive officer for Banner Health Network.

Banner Health Network offers participating beneficiaries more than 3,000 providers, 15 Phoenix-area acute care and specialty hospitals, plus Banner Home Care, Banner Surgery Centers and more.

About Health Net of Arizona

Headquartered in Tempe, Ariz., Health Net of Arizona, Inc. is a wholly owned subsidiary of Health Net, Inc. (NYSE: HNT). Together with Health Net Life Insurance Company and Health Net Access, Inc., Health Net of Arizona serves approximately 312,000 members and delivers managed health care services through health plans and government-sponsored managed care plans. Health Net of Arizona’s products include: HMO employer-sponsored plans; Medicare Advantage plans; and Individual and Family plans. Health Net Life Insurance Company’s products offer access to a national provider network and include: PPO; POS and Indemnity employer-sponsored plans; and Individual and Family plans. Health Net Access provides Medicaid benefits to residents in Maricopa County under the Arizona Health Care Cost Containment System.

About Banner Health Network

Banner Health Network was designed to provide a highly coordinated patient care experience for beneficiaries of government and private sector insurance plans. Banner Health Network is comprised of 3,000 Banner Health-affiliated providers, caring for 300,000 covered lives. With a population health management focus, and a sophisticated health information technology as support, Banner Health Network seeks to provide high quality care at an affordable price. Parent company, Banner Health, is one of the largest nonprofit health systems in the country, with operations in seven states. For more information, go to www.BannerHealth.com.

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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 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; the company’s ability to successfully participate in Arizona’s Medicaid program; 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, 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:

Health Net of Arizona, Inc.
Lori Rieger, 602-794-1415
lori.rieger@healthet.com
www.twitter.com/hnlori
or
Banner Health Network
Jennifer Ruble, 602-747-3583
Jennifer.Ruble@BannerHealth.com

Source: Health Net of Arizona, Inc.