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California Farm Bureau Selects Health Net for 60,000-Member Health Plan

Posted on: Thursday, 12 July 2007, 09:19 CDT

The California Farm Bureau Federation has chosen Health Net Life Insurance Company as the underwriter for its 60,000-member health plan, effective July 1.

"We were looking for a company that could manage our health care costs, while also providing a health care program tailored for our members," said Doug Mosebar, president of the California Farm Bureau Federation. "Health Net has a track record of stellar service, and with their very dedicated management team, we felt they could meet our members' needs."

The Farm Bureau Members' Health Plan is one of California's oldest association plans, providing health insurance benefits to members since 1946. California Farm Bureau members will continue to receive the same benefits and services currently provided.

"As a California-based health plan, we understand the needs and desires of our new customers -- all of whom are Californians," said Stephen Lynch, president of Health Net of California. "This selection acknowledges the excellent customer service and programs we provide to our members," added Lynch.

About The California Farm Bureau Federation

The California Farm Bureau Federation, the state's largest farm organization, works to protect family farms and ranches on behalf of nearly 92,000 members. For additional information, visit www.cfbf.com.

About Health Net

Health Net Life Insurance Company is a wholly owned subsidiary of Health Net of California. Health Net of California, a subsidiary of Health Net, Inc. (NYSE:HNT), is one of the largest health plans in the state, serving nearly 2.3 million members statewide. It contracts with more than 51,000 physicians, 300-plus hospitals and nearly 5,000 pharmacies, giving its members greater choice and more convenient access to care. Its commercial HMO and POS and Medicare lines of business have received the "excellent" accreditation status from the National Committee for Quality Assurance, and its Medicaid line of business has received the "commendable" accreditation status. For more information, visit 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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