Health Net Announces Appearance at Cowen & Company 35th Annual Health Care Conference
February 25 2015 - 4:45PM
Business Wire
Health Net, Inc. (NYSE:HNT) today announced that members of its
management team are scheduled to present at the Cowen & Company
35th Annual Health Care Conference on March 3, 2015, at
approximately 9:20 a.m. Eastern time.
A live webcast and replay of the presentation will be available
at www.healthnet.com under “Investor Relations.” The webcast is
open to all interested parties. The webcast should be accessed at
least 15 minutes prior to its start time. Anyone listening to the
webcast will be presumed to have read Health Net’s Annual Report on
Form 10-K for the year ended December 31, 2013, Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2014, June
30, 2014 and September 30, 2014, and other subsequent reports filed
by the company from time to time with the Securities and Exchange
Commission.
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 6.0 million
individuals across the country through group, individual, Medicare
(including the Medicare prescription drug benefit commonly referred
to as “Part D”), Medicaid, U.S. Department of Defense, including
TRICARE, and Veterans Affairs programs. Health Net also offers
behavioral health, substance abuse and employee assistance
programs, managed health care products related to prescription
drugs, 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 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, 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 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, including through the company’s
master services agreement with a subsidiary of Cognizant Technology
Solutions Corporation (Cognizant); whether the company receives
required regulatory approvals for Cognizant’s provision of services
to the company and any conditions imposed in order to obtain such
regulatory approvals; the company’s ability to recognize the
intended cost savings and other intended benefits of the Cognizant
transaction; 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 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; 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 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 economic or market
conditions; 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; impairment of the company’s
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 company’s 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 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.
Investor Contact:The Abernathy MacGregor GroupDavid
Olson, 818-917-1469dwo@abmac.comorMedia Contact:Health Net,
Inc.Brad Kieffer, 818-676-6833brad.kieffer@healthnet.com
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