Kathleen Alyce Waters will lead all corporate legal functions
Company Website:
http://www.healthnet.com
LOS ANGELES -- (Business Wire)
Kathleen Alyce Waters has been named senior vice president, general
counsel and secretary of Health
Net, Inc., the company announced today. She will be responsible for
all corporate legal functions.
Kathleen A. Waters has been named Senior Vice President, General Counsel and Secretary for Health Net, Inc. (Photo: Business Wire)
“We are excited for Kathleen joining Health Net,” said Jay Gellert,
president and chief executive officer of Health Net, “and we look
forward to her guidance as we continue navigating the Affordable Care
Act and building a successful company.”
Previously, Waters was a partner at Morgan, Lewis & Bockius LLP in Los
Angeles, where she led the firm’s Southern California litigation group
and co-led its healthcare group. Before that, she was a partner at
Brobeck, Phleger & Harrison LLP in Los Angeles.
Waters received her law degree from Boston College Law School and her
Bachelor of Arts degree from Queen’s University in Kingston, Ontario,
Canada.
Waters, who begins her duties April 27, will be based in Woodland Hills,
Calif., and report to Gellert. She will succeed Angelee Bouchard, who
will retire following her family’s relocation to Colorado. To facilitate
the transition of responsibilities to Waters, Bouchard will remain with
the company as special counsel through May 26, 2015, reporting to
Gellert.
“We are grateful for Angelee’s many contributions and exemplary
leadership during a time of positive change and growth at Health Net,”
said Gellert. “We wish her well.”
About Health Net
Health Net, Inc. (NYSE:HNT) 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 6.0 million individuals
across the country through group, individual, Medicare (including the
Medicare prescription drug benefit commonly referred to as “Part D”),
Medicaid, dual eligible, U.S. Department of Defense, including TRICARE,
and U.S. Department of 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 reports, in presentations, press releases, filings
with the Securities and Exchange Commission (“SEC”), and in meetings
with investors and analysts. All statements in this report, 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
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 a
subsidiary of Cognizant Technology Solutions Corporation (“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; 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; 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; the timing of collections on
amounts receivable from state and federal governments and agencies;
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 Arizona Health
Care Cost Containment System, 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; 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 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
report.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150415005120/en/
Contacts:
Health Net, Inc.
Investor Contact:
Peter O’Neill
(818)
676-8692
peter.oneill@healthnet.com
or
Media
Contact:
Brad Kieffer
(818) 676-6833
brad.kieffer@healthnet.com
www.twitter.com/hn_bradkieffer
Source: Health Net, Inc.
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