Health Net Announces Appearance at Bank of America Merrill Lynch 2015 Health Care Conference
May 07 2015 - 4:15PM
Business Wire
Health Net, Inc. (NYSE:HNT) today announced that members of its
management team are scheduled to present at the Bank of America
Merrill Lynch 2015 Health Care Conference on May 12, 2015, at
approximately 8:40 a.m. Pacific 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, 2014, Quarterly
Report on Form 10-Q for the quarter ended March 31, 2015, 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, dual eligible, U.S. Department of
Defense, including TRICARE, and U.S. Department of Veterans Affairs
programs. Health Net also offers behavioral health, substance abuse
and employee assistance programs, and managed health care products
related to prescription drug.
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; the recompetition of the company’s T-3 contract for the
TRICARE North region; 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; 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; the timing of collections on amounts
receivable from state and federal governments and agencies;
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; 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 Quarterly
Report 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.
Health Net, Inc.Investor Contact:Peter O’Neill(818)
676-8692peter.oneill@healthnet.comorMedia Contact:Brad
Kieffer(818) 676-6833brad.kieffer@healthnet.com
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