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Health Net Puts Money Behind Its Words

Health Net of California, Inc. is so sure of its promises, it’s backing one of them with a $5,000 guarantee.

In what is believed to be a first for health plans serving California’s mid-sized employers (those with 51 to 300 employees), Health Net will provide a $5,000 check to employers if their employees’ Health Net identification cards are not in the mail within 10 business days from the date of enrollment.

More Information
Health Net Online Newsroom
Health Net Member Website
State-by-State Health Net Health Plans

“This sort of performance guarantee is prevalent for employers with large workforces,” said Larry Tallman, Health Net vice president of Sales. “Health Net is now taking that concept and making it work for medium-sized companies. It’s to underscore our commitment to excellent performance and to provide our customers with the security in knowing we stand behind our actions.”

The program, called ID Card Express, is for employers that are new to Health Net and that choose from Health Net’s Starting Lineup portfolio of benefit plans specially tailored to meet the needs of mid-sized California employers.

Once a new employer’s enrollment with Health Net is approved, the 10-business-day clock starts. If employees’ ID cards are not mailed by the deadline, Health Net pays the employer.

ID Card Express is just one of many Health Net features that employers will find attractive, including:

  • An award-winning website providing a wide array of useful online tools and resources to help members view their benefits and claims history, find participating doctors, access wellness programs, and more.
  • Online billing and enrollment services providing the flexibility for administrators to manage accounts 24/7.

About Health Net of California

Health Net of California, Inc., a subsidiary of Health Net, Inc. (NYSE:HNT), is one of the largest health plans in the state. Together with Health Net Life Insurance Company, it serves more than 2.2 million members statewide, and contracts with more than 56,000 physicians, 300-plus hospitals and nearly 5,000 pharmacies, giving its members greater choice and more convenient access to care. Its commercial HMO/POS and Medicare lines of business have received the “excellent” accreditation status from the National Committee for Quality Assurance. Its PPO line of business (offered by Health Net Life Insurance Company) and its Medicaid line of business have received the “commendable” accreditation status. For more information about Health Net, visit its website at http://www.healthnet.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; health care reform; 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 “Risk Factors” section included within the company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”), and the risks discussed in the company’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.

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Contacts:

Health Net of California, Inc.
Brad Kieffer
818-676-6833 - office
818-337-9541 - mobile
brad.kieffer@healthnet.com
twitter.com/hn_bradkieffer

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