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Health Net Names Rose Megian President And Chief Executive Officer Of Health Net Of Arizona

Stocks in this article: HNT

Health Net, Inc. (NYSE:HNT) today announced that Rose Megian has been named the new president and chief executive officer of Health Net of Arizona, Inc., a wholly-owned health plan subsidiary in Arizona. Megian replaces Bret Morris, who led Health Net of Arizona since May 2010. Megian started at Health Net in 2003 and held several senior leadership positions during that time, including vice president of Provider/Benefit Configuration and Capitation and vice president of Membership Accounting and Eligibility and Claims Operations.

“Rose has established an excellent track record in operations management and consistently demonstrates the ability to lead large teams and improve outcomes,” said Steve Sell, president of Health Net’s Western Region Health Plan.

Megian also holds the title of Regional Health Care Services Officer and has responsibility over the health care services delivered in Arizona and California’s Inland Empire and San Diego regions. Health Net has established five health care delivery regions in the geographies in which it operates.

“Our health care services model is a regionally focused member- and population-centric model built upon strategic partnerships with health care providers,” said Scott Law, Health Net’s Health Care Services Officer. “Rose has proven herself to be a collaborative leader who is able to establish strong relationships.”

Megian has 18 years of industry experience. Prior to joining Health Net, Megian worked for six years at PacifiCare of Arizona where she held several leadership roles, including manager of Membership Accounting and director of Finance Operations.

“It’s an unprecedented time in our nation’s history,” said Law. “The Affordable Care Act is shaping the future of health care. Health Net’s local approach will help ensure we provide our customers with affordable, quality access to care in 2014 and beyond.”

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, U.S. 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.

For more information on Health Net, Inc., please visit Health Net’s website at www.healthnet.com.

Cautionary Statements

Health Net, Inc. and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act (“PSLRA”) of 1995, including statements in this and other press releases, in presentations, filings with the Securities and Exchange Commission (“SEC”), reports to stockholders and in meetings with investors and analysts. All statements in this press release, other than statements of historical information provided herein, may be deemed to be forward-looking statements and as such are intended to be covered by the safe harbor for “forward-looking statements” provided by PSLRA. These statements are based on management’s analysis, judgment, belief and expectation only as of the date hereof, and are subject to changes in circumstances and a number of risks and uncertainties. Without limiting the foregoing, statements including the words “believes,” “anticipates,” “plans,” “expects,” “may,” “should,” “could,” “estimate,” “intend,” “feels,” “will,” “projects” and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied or projected by the forward-looking information and statements due to, among other things, health care reform and other increased government participation in and regulation of health benefits and managed care operations, including the ultimate impact of the Affordable Care Act, which could materially adversely affect Health Net’s financial condition, results of operations and cash flows through, among other things, reduced revenues, new taxes, expanded liability, and increased costs (including medical, administrative, technology or other costs), and require changes to the ways in which Health Net does business; rising health care costs; continued slow economic growth or a further decline in the economy; negative prior period claims reserve developments; trends in medical care ratios; membership declines; unexpected utilization patterns or unexpectedly severe or widespread illnesses; rate cuts and other risks and uncertainties affecting Health Net’s Medicare or Medicaid businesses; Health Net’s ability to successfully participate in California’s Coordinated Care Initiative, the Covered California health insurance exchange and/or Arizona’s Medicaid program; litigation costs; regulatory issues with federal and state agencies including, but not limited to, the California Department of Managed Health Care, the Centers for Medicare & Medicaid Services, the Office of Civil Rights of the U.S. Department of Health and Human Services and state departments of insurance; operational issues; failure to effectively oversee our third-party vendors; noncompliance by Health Net or Health Net’s business associates with any privacy laws or any security breach involving the misappropriation, loss or other unauthorized use or disclosure of confidential information; liabilities incurred in connection with Health Net’s divested operations; impairment of Health Net’s goodwill or other intangible assets; investment portfolio impairment charges; volatility in the financial markets; and general business and market 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 Health Net’s most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q filed with the SEC and the other risks discussed in Health Net’s filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as may be required by law, Health Net undertakes no obligation to address or publicly update any forward-looking statements to reflect events or circumstances that arise after the date of this press release.

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