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Health Net

(HNT)

said Friday that it intends to expand its Medicare Part D prescription drug plan offerings to all 50 states and the District of Columbia in 2007.

The company also intends to enter the private fee-for-service medicare advantage market by offering such plans in seven states. The company also will expand its traditional Medicare Advantage plans into four new counties in 2007 and will open additional retail outlets.

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"As one of the largest health plans serving Medicare beneficiaries, we are pleased with the success of our Medicare plans in 2006," said the company. "We added approximately 290,000 new Medicare members in Part D in 2006, along with more than 20,000 new Medicare Advantage members. We expect to add even more enrollment next year as a result of our expansion into all 50 states and the District of Columbia and our entry into private fee-for-service."

The company also said that U.S. citizens who are at least 65 years old, or who are disabled, or who are dual-eligible members on both Medicare and Medicaid, can enroll in Health Net's Part D coverage plans beginning Nov. 15.

The company's shares were trading down 46 cents, at $45.62.

This story was created through a joint venture between TheStreet.com and IRIS.