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Health Net of Arizona Among the Valley's ''Best Places to Work''

Posted on: Wednesday, 13 December 2006, 09:00 CST

Health Net of Arizona, Inc., a subsidiary of Health Net, Inc. (NYSE:HNT), today announced that it was named by The Business Journal of Phoenix to the 2006 list of "Best Places to Work in the Valley."

The "Best Places to Work" list recognizes companies in the Phoenix metropolitan area that provide a great work environment and benefits for their employees. The list is based on a survey of the company's associates that is administered by a third party. Areas surveyed include company culture, benefits, leadership, management and communication.

Health Net of Arizona was lauded for creating a corporate culture and work environment that fosters personal and professional growth for its employees.

"Health Net is a great place to work in large part because of the great people who work with us," said Mark El-Tawil, president of Health Net of Arizona, Inc., and chief senior products officer for Health Net, Inc. "All of us at Health Net are dedicated to helping our members be healthy, secure and comfortable -- and that same mission extends to those of us who work for Health Net as well."

Winners were announced at the Best Places to Work Luncheon held on December 7, 2006, at the Arizona Biltmore, and will be featured at a Best Workplace Business Forum on February 1, 2007, hosted by BestCompaniesAZ and Ogletree & Deakins. For complete details, visit www.bestcompaniesaz.com.

About Health Net of Arizona, Inc.

Health Net of Arizona, Inc. is a subsidiary of Health Net, Inc. (NYSE:HNT). Health Net, Inc. is among the nation's largest publicly traded managed health care companies and the nation's fourth-largest Medicare Advantage contractor, based on membership. Health Net's 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 6.6 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs, including 156,000 in Arizona. Health Net, Inc.'s behavioral health subsidiary, MHN, provides behavioral health, substance abuse and employee assistance programs (EAPs) to approximately 7.3 million individuals in various states. 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.

Cautionary Statements

This release contains 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, litigation costs, 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 and subsequent Quarterly Reports on Form 10-Q filed 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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