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Health Net Strives to Exceed $75,000 Goal Through Annual Golf Classic Despite Hard Economic Times

^{Published on 2010-09-01 07:11:12 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--[ Health Net, Inc. ], (NYSE:HNT) today announced its upcoming 12^th annual Health Net Charity Golf Classic & Casino Event at Sunset Whitney Country Club on Saturday, September 18, 2010, in Rocklin, Calif., to raise funds for the local organization, Childrena™s Choice for Hearing and Talking (CCHAT) Center in Rancho Cordova, Calif.

"We are very proud to support this local organization that serves children with hearing loss with the only auditory/oral program in Northern California, and wea™re committed to work even harder during this economic downturn to exceed our goal to raise $75,000."

aTimes may be tough, but that doesna™t stop the need for organizations like CCHAT, which depend on their communities for support to do the work they do,a said Steve Tough, president of Health Neta™s Government & Specialty Services division, which includes Health Net Federal Services. aWe are very proud to support this local organization that serves children with hearing loss with the only auditory/oral program in Northern California, and wea™re committed to work even harder during this economic downturn to exceed our goal to raise $75,000.a

CCHAT provides a unique auditory/oral program to help children develop proficient spoken language. It is set apart from other programs for children with hearing loss that teach American Sign Language (ASL) or total communication a" a combination of sign and spoken language a" as a childa™s primary method of communication. CCHATa™s special training helps children learn to develop speech and language at the same rate as their hearing peers, giving them the opportunity to mainstream into the public or private school system without an interpreter.

The Health Net Charity Golf Classic features a best ball format and four-person teams. Prizes for first, second and third place, as well as longest drive and closest to the pin, will be awarded. A World Poker Tour professional dealer will enhance the afternoon Casino Event experience, and the Mulligan Brothers will perform live. Additional prizes will be awarded.

For more information and to register for this event, visit: [ www.hnfs.net/common/home/golf ].

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 Departments of Defense and Veterans Affairs. As the managed care support contractor for the TRICARE North Region, Health Net provides health care services to nearly 3.0 million uniformed services beneficiaries, active and retired, and their families.

Health Net, Inc. is among the nationa™s largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The companya™s health plans and government contracts subsidiaries provide health benefits to approximately 6.0million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Neta™s behavioral health subsidiary, MHN, provides mental health benefits to approximately 5.5 million individuals in all 50 states. The companya™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 companya™s website at [ http://www.healthnet.com ]. For more information on Health Net Federal Services, please visit[ http://www.healthnetfederalservices.com/ ]or on[ Facebook ].

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 managementa™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 abelieves,a aanticipates,a aplans,a aexpects,a amay,a ashould,a acould,a aestimate,a aintenda and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially due to, among other things, health care reform; 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; rising health care costs; continued recessionary economic conditions or a further decline in the economy; negative prior period claims reserve developments; 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; 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 aRisk Factorsa section included within the companya™s most recent Annual Report on Form10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (aSECa), and the risks discussed in the companya™s other filings with the SEC. 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.

The rights in and to World Poker Tour and Mulligan Brothers are held by their respective owners.