Company Website:
http://www.healthnet.com
LOS ANGELES -- (Business Wire)
Health
Net, Inc. (NYSE:HNT) expects to issue a press release announcing its
third quarter 2015 earnings results before the market opens on Monday,
November 2, 2015.
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 6.1 million individuals across the
country through group, individual, Medicare (including the Medicare
prescription drug benefit commonly referred to as “Part D”), Medicaid
and dual eligible programs, as well as programs with the U.S. Department
of Defense and U.S. Department of Veterans Affairs. Health Net also
offers behavioral health, substance abuse and employee assistance
programs, and managed health care products related to prescription drugs.
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 a number of factors, variables or
events. Certain of these factors relate to the company’s proposed
business combination with Centene Corporation (“Centene”), including,
among other things, the expected closing date of the transaction; the
possibility that the expected synergies and value creation from the
proposed merger will not be realized, or will not be realized within the
expected time period; the risk that the businesses will not be
integrated successfully; disruption from the merger making it more
difficult to maintain business and operational relationships; the risk
that unexpected costs will be incurred; the possibility that the merger
does not close, including, but not limited to, due to the failure to
satisfy the closing conditions, including the receipt of approval of
both Centene’s stockholders and Health Net’s stockholders; the risk that
financing for the transaction may not be available on favorable terms;
and certain other risks associated with the merger, as more fully
discussed in the definitive joint proxy statement/prospectus, as it may
be amended, which was filed with the SEC on September 21, 2015 in
connection with the merger. Other factors include, among others, 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, and subsequent modifications
to, the Patient Protection and Affordable Care Act and the Health Care
and Education Reconciliation Act of 2010 and the regulations promulgated
thereunder (collectively, the “ACA”) as well as any 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; the recompetition
of the company’s T-3 contract for the TRICARE North region; 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 political, economic or market conditions; investment
portfolio impairment charges; volatility in the financial markets; and
general business and market conditions. The factors described in the
context of such forward-looking statements in this press release could
cause the company or Centene’s plans with respect to the proposed
merger, actual results, performance or achievements, industry results
and developments to differ materially from those expressed in or implied
by such forward-looking statements. 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 any 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 of its forward-looking statements to reflect events
or circumstances that arise after the date of this release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151005005296/en/
Contacts:
Health Net, Inc.
Investors:
Peter O’Neill, 818-676-8692
peter.oneill@healthnet.com
or
Media:
Brad
Kieffer, 818-676-6833
brad.kieffer@healthnet.com
Source: Health Net, Inc.
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