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Health Net of California Launches New Provider Network in Eight Counties; Network Utilizes Quality, Cost-Effective Hospitals and Physicians

Posted on: Thursday, 10 February 2005, 18:00 CST

Health Net of California today introduced a new Health Maintenance Organization (HMO) network of doctors, specialists and hospitals in eight counties that includes those health care professionals committed to providing the greatest value through a combination of quality and cost effectiveness.

The network, called the "HMO Silver Network" currently is available to employers with more than 50 employees. "This network provides the same high-quality health care as our statewide network and greater affordability for our customers," said Stephen Lynch, president of Health Net of California. "With health care cost inflation the No. 1 challenge facing our industry, our new HMO Silver Network is just what the doctor ordered."

The Health Net HMO Silver Network, which provides premium savings of 5 to 14 percent off the current statewide network, is available to employers in Kern, Los Angeles, Orange, San Bernardino, San Diego, San Francisco, Riverside and Ventura counties.

"The HMO Silver Network is ideal for employers seeking the optimum in affordability and quality from Health Net," Lynch added. "Members with the HMO Silver Network may choose from more than 5,400 primary care physicians, more than 7,800 specialists and more than 165 hospitals."

Health Net expects to expand the HMO Silver Network to employers with fewer than 51 employees in the second quarter of 2005. And the company will continue developing flexible network options and new products to help employers offer affordable health care coverage to their employees.

Health Net of California is a subsidiary of Health Net, Inc. (NYSE:HNT). Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's HMO, POS, insured PPO and government contracts subsidiaries provide health benefits to approximately 6.5 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's subsidiaries also offer managed health care products related to behavioral health and 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 company's Web site at www.healthnet.com.

Cautionary Statements

Certain matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve a number of risks and uncertainties. All statements, other than statements of historical information provided herein, may be deemed to be forward-looking statements. 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, 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, rising health care costs, negative prior period claims reserve developments, trends in medical care ratios, issues relating to provider contracts, operational issues, health care reform and general business 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 filed with the SEC and the risks discussed in the company's other periodic 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 these forward-looking statements to reflect events or circumstances that arise after the date of this release.

Source: Business Wire

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