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Health Net's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Health Net, Inc. (HNT)

Q2 2012 Earnings Call

August 3, 2012 11:00 am ET

Executives

Angie McCabe – Vice President of Investor Relations

Jay M. Gellert – Chief Executive Officer, President and Director

Analysts

Joshua R. Raskin – Barclays Capital, Research Division

Sarah James – Wedbush Securities Inc.

Justin Lake – JPMorgan Securities LLC

Ana Gupte – Sanford C. Bernstein & Co. LLC

Scott Fidel – Deutsche Bank

Matthew Borsch – Goldman Sachs

Chris Rigg – Susquehanna Financial Group

Kevin Fischbeck - Bank of America Merrill Lynch

David Windley – Jefferies & Co.

Carl McDonald – Citigroup

Peter Costa – Wells Fargo Advisors LLC

Presentation

Operator

Good morning, everyone, and welcome to this Health Net, Incorporated Second Quarter 2012 Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Angie McCabe, Vice President of Investor Relations. Please go ahead.

Angie McCabe

Thank you, Christie. And thank you all for joining us for a discussion of Health Net's second quarter 2012 results.

During this call, we will make forward-looking statements that are subject to certain risks and uncertainties. Risk factors that may impact those statements and could cause actual future results to differ materially from currently expected results are described in our filings with the SEC, as well as the cautionary statements in our press release issued in advance of this call.

In today's call, we will refer to adjusted days claims payable. This adjusted metric is not being presented in accordance with generally accepted accounting principles or GAAP. Please refer to today's press release, which is available on the Company's website for a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure; days claims payable.

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