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Health Net Federal Services Patient Appointing Services Contracts Extended

^{Published on 2010-01-08 12:25:06 - Market Wire}
 

RANCHO CORDOVA, Calif.--([ BUSINESS WIRE ])--[ Health Net Federal Services ], LLC, the government operations division of [ Health Net, Inc. ] (NYSE:HNT), today announced the Patient Appointing Setting (PAS) Multiple Award Task Order (MATO) covering its contracts in Fort Irwin, Puget Sound and Great Lakes has been extended for six months, through September 30, 2010, by the United States Army's Center for Health Care Contracting, Fort Sam Houston, Texas.

"We are pleased to have earned the opportunity to provide efficient and timely access to quality health care providers for the Military Treatment Facilities we serve"

"We are pleased to have earned the opportunity to provide efficient and timely access to quality health care providers for the Military Treatment Facilities we serve," said Steve Tough, president, Health Net Federal Services. "Effective appointment setting services play a pivotal role in providing quality healthcare to the military community."

Health Net Federal Services is responsible for verifying and updating registration information in the appointment system, making and canceling patient appointments with Military Treatment Facility providers, and providing performance and management reports on the appointing process for eligible beneficiaries.

Health Net Federal Services currently provides Patient Appointing Services for the seven Military Treatment Facilities in the Puget Sound, Wash., the Naval Health Clinic in Great Lakes, Ill., and Weed Army Community Hospital in Fort Irwin, Calif.

About Health Net

Health Net Federal Services, LLC, a subsidiary of Health Net, Inc., has a long history of providing cost-effective, quality managed health care programs for government agencies including the Department of Defense and Veterans Affairs. As the current managed care support contractor for the TRICARE North Region, Health Net provides health care services to over 3 million uniformed services beneficiaries, active and retired, and their families.

Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's health plans and government contracts subsidiaries provide health benefits to more than 6 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net's behavioral health subsidiary, MHN, provides mental health benefits to approximately 6.5 million individuals in all 50 states. The company's subsidiaries also offer managed health care products related to prescription drugs, and offer 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 the company's Web site at [ www.healthnet.com ]. For more information on Health Net Federal Services, please visit [ www.healthnetfederalservices.com ].

Cautionary Statements

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 subject to a number of risks and uncertainties. These statements are based on management's analysis, judgment, belief and expectation only as of the date hereof, and are subject to uncertainty and changes in circumstances. Without limiting the foregoing, statements including the words "believes," "anticipates," "plans," "expects," "may," "should," "could," "estimate," "intend" and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially due to, among other things, costs, fees and expenses related to the post-closing administrative services to be provided under the administrative services agreements entered into in connection with the sale of our Northeast business; potential termination of the administrative services agreements by the service recipients should we breach such agreements or fail to perform all or a material part of the services required thereunder; any liabilities of the Northeast business that were incurred prior to the closing of its sale as well as those liabilities incurred through the winding-up and running-out period of the Northeast business; potential termination of our TRICARE North operations; rising health care costs; a continued decline in the economy; negative prior period claims reserve developments; investment portfolio impairment charges; volatility in the financial markets; trends in medical care ratios; unexpected utilization patterns or unexpectedly severe or widespread illnesses; membership declines; rate cuts affecting our Medicare or Medicaid businesses; litigation costs; regulatory issues; operational issues; health care reform; 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, subsequent quarterly reports on Form 10-Q, and the risks discussed in the company's other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to publicly revise any of its forward-looking statements to reflect events or circumstances that arise after the date of this release.