Health Net, Inc. (NYSE:HNT) today announced that the Arizona Health Care Cost Containment System (AHCCCS) awarded Health Net a contract to administer Medicaid benefits in Maricopa County, which is currently expected to begin in October 2013.
“We are delighted to have been selected by AHCCCS,” said David Friedman, vice president of State Health Programs for Health Net. “Health Net has more than 20 years of experience providing access to quality, affordable Medicaid benefits in California, and we look forward to participating in Arizona’s managed Medicaid program.”
AHCCCS oversees the Medicaid program that provides coverage to more than 1 million Arizona beneficiaries statewide. When the contract becomes effective, which is currently expected to be in October 2013, Health Net, which was selected following a competitive bid process, will be offered as an acute care health plan option to AHCCCS-eligible beneficiaries. Health Net’s initial contract is for three years, with two additional one-year extensions at the option of AHCCCS.
“Health Net has a talented team of caring, dedicated associates who are committed to providing access to physicians, specialists, hospitals and pharmacies, and 24-hour telephone access to a nurse advice service,” said Bret Morris, president of Health Net of Arizona. “We look forward to meeting the health care needs of AHCCCS-eligible beneficiaries in Maricopa counties.”About Health Net Health Net, Inc. is a publicly traded managed care organization that delivers managed health care services through health plans and government-sponsored managed care plans. Its mission is to help people be healthy, secure and comfortable. Health Net provides and administers health benefits to approximately 5.4 million individuals across the country through group, individual, Medicare (including the Medicare prescription drug benefit commonly referred to as “Part D”), Medicaid, Department of Defense, including TRICARE, and Veterans Affairs programs. Through its subsidiaries, Health Net also offers behavioral health, substance abuse and employee assistance programs, managed health care products related to prescription drugs, managed health care product coordination for multi-region employers, and administrative services for medical groups and self-funded benefits programs.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts