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Guardian Life Insurance and Health Net of the Northeast Launch New, Flexible Plans; New Portfolio Responds to the Drive Toward Greater Consumerism in Healthcare

Posted on: Monday, 7 November 2005, 09:00 CST

The Guardian Life Insurance Company of America and Health Net of the Northeast are introducing a new, flexible portfolio of plans tailored for small business groups with between two and 50 employees. The new product portfolio, called Healthcare Solutions Outlook(SM), includes 10 POS (Point-of-Service) plans and 12 EPO (Exclusive Provider Organization) plans.

The Healthcare Solutions Outlook plans respond to the drive toward greater consumerism in health care and reflect the desire of employers to help control escalating health care costs. They are designed for the employer who expects employees to take a greater interest in health care decisions by utilizing proprietary tools and resources such as Health Net's Decision Power, which enable members to become more confident in making informed decisions about their own health.

"Our goal is to empower our members to become confident health care decision makers," said Paul S. Lambdin, chief commercial officer, Health Net of the Northeast. "Hard medical research has shown that unnecessary health care utilization and costs are reduced when physicians come to decisions with a high level of participation from better-informed patients."

Guardian and Health Net Healthcare Solutions recognized the need to offer increased pricing flexibility to New York small business groups and their employees in order to make health care coverage more accessible and affordable.

These new plans offer lower premiums than existing HMO-based products; increased flexibility in terms of deductibles, coinsurance and copayments; open access where members do not need a referral to see a specialist; and access to our network with almost 90,000 provider locations.

"We have responded to employer and broker input with these innovative products that meet the demands and price requirements of New York's small businesses," said Rich White, senior vice president, Group Insurance of Guardian. "These new Outlook plans have built-in adaptability to change based on the needs of our customers and continued feedback from our brokers."

"Healthcare Solutions Outlook is another indication of our ongoing efforts to respond to market conditions and meet the particular needs of our customers," said Lambdin. "As a locally focused company, meeting customer needs is an ongoing mission because local market conditions and resulting customer requirements keep changing."

For more information on Guardian and Health Net Healthcare Solutions Outlook(SM), employers may contact their Health Net representative or broker. Brokers may contact their Health Net or Guardian sales representative.

About Health Net

Health Net of the Northeast, Inc., headquartered in Shelton, Conn., employs approximately 1,800 associates in Connecticut, New Jersey and New York. Health Net of the Northeast, through its subsidiaries, offers full-service health plans that serve nearly one million members in the tri-state area. The Northeast health plans offer a wide array of products, including: Health Maintenance Organization (HMO), Point-of-Service (POS), Preferred Provider Organization (PPO), third-party administration, Medicare and Medicaid. With a physician network comprising more than 90,000 physician and provider office locations, Health Net is one of the largest health plans in the northeast, offering a full array of open-access products and coordination for multi-region employers.

Health Net of the Northeast 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 6.4 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's behavioral health services subsidiary, MHN, provides behavioral health, substance abuse and employee assistance programs (EAPs) to approximately 7.3 million individuals in various states, including the company's own health plan members. The company's subsidiaries also offer managed health care products related to 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.

About Guardian

Founded in 1860, The Guardian Life Insurance Company of America, New York (Guardian), is the fourth largest mutual life insurance company in the United States. As of December 31, 2004, Guardian and its subsidiaries had $39.5 billion in assets. With more than 5,000 employees and 2,900 financial representatives, as well as over 80 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at www.guardianlife.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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