Current Report Filing (8-k)
January 05 2015 - 5:27PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
|
|
Date of Report (Date of Earliest Event Reported):
|
|
January 5, 2015
|
Health Net, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
|
|
|
Delaware
|
1-12718
|
95-4288333
|
_____________________
(State or other jurisdiction
|
_____________
(Commission
|
______________
(I.R.S. Employer
|
of incorporation)
|
File Number)
|
Identification No.)
|
|
|
|
21650 Oxnard Street, Woodland Hills, California
|
|
91367
|
_________________________________
(Address of principal executive offices)
|
|
___________
(Zip Code)
|
|
|
|
Registrants telephone number, including area code:
|
|
(818) 676-6000
|
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure.
Members of the management team of Health Net, Inc. (the Company) expect to meet with
investors and analysts at (i) the Goldman Sachs Healthcare CEOs Unscripted Conference (the GS
Conference) on January 6, 2015, where the Company is also scheduled to give a presentation at
approximately 1:00 p.m. (Eastern Time); and (ii) the 33rd Annual J.P. Morgan Healthcare Conference
(the JPM Conference, and, together with the GS Conference, the Conferences) on January 14,
2015, where the Company is also scheduled to give a presentation at approximately 11:30 a.m.
(Pacific Time).
During these presentations and meetings, the Company intends to address its prospects and
historical performance, and reaffirm the Companys earnings guidance for the full year 2014, as
previously announced in a press release issued on November 3, 2014 and the Companys earnings
guidance for the full year 2015, as previously announced in a press release issued on
December 17, 2014.
Live audio webcasts of the Companys presentations at the Conferences will be available in the
Investor Relations section of the Companys website. Replays of these presentations and the
Company slides used in the JPM Conference presentation will be available in the Investor
RelationsPresentations and Webcasts section of the Companys website at www.healthnet.com. The
Companys website address is included for reference only. The information contained on the
Companys website is not part of this Current Report on Form 8-K and is not incorporated by
reference herein.
The information in this Item 7.01 shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in any Company filing under the
Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.
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 managements 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 Companys ability to successfully participate
in Californias 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 Companys ability to successfully participate in the federal and
state health insurance exchanges under the ACA, which in the past have experienced technical
challenges in implementation and which involve uncertainties related to the mix and volume of
business that could negatively impact the adequacy of the Companys 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 Companys ability to reduce administrative expenses while maintaining targeted levels of
service and operating performance, including through the Companys master services agreement with
Cognizant; whether the Company receives required regulatory approvals for Cognizants provision of
services to the Company and any conditions imposed in order to obtain such regulatory approvals;
the Companys ability to recognize the intended cost savings and other intended benefits of the
Cognizant transaction; and 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 Companys Medicare or
Medicaid businesses; trends in medical care ratios; membership declines or negative changes in the
Companys health care product mix; unexpected utilization patterns or unexpectedly severe or
widespread illnesses; the timing of collections on amounts receivable from state and federal
governments and agencies, including collections of amounts owed under the T-3 contract; 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 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; failure to effectively oversee the Companys third-party vendors; noncompliance
by the Company or the Companys business associates with any privacy laws or any security breach
involving the misappropriation, loss or other unauthorized use or disclosure of confidential
information; impairment of the Companys goodwill or other intangible assets; 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 Companys most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q filed with the SEC and the other risks discussed in the
Companys 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
Health Net, Inc. |
|
|
|
|
|
|
|
January 5, 2015
|
|
|
|
By:
|
|
/s/ James E. Woys |
|
|
|
|
|
|
|
|
|
|
|
Name:
|
|
James E. Woys |
|
|
|
|
Title:
|
|
Executive Vice President, Chief
Financial and Operating Officer and
Interim Treasurer |
Health Net (NYSE:HNT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Health Net (NYSE:HNT)
Historical Stock Chart
From Apr 2023 to Apr 2024