Health Net Federal Services Launches Veteran and Military Spouse Employment Initiative

Partners with Joining Forces and Hero Health Hire

ARLINGTON, Va.--(BUSINESS WIRE)-- In an effort to help reduce Veteran unemployment, Health Net Federal Services, LLC, part of the Government Contracts segment of Health Net, Inc. (NYSE:HNT), today announced the launch of the Veteran and Military Spouse Employment Initiative, a comprehensive and progressive plan to recruit, hire, train and retain Veterans for the Health Net workforce.

This initiative, as well as recent partnerships with Joining Forces and Hero Health Hire, is reflective of Health Net’s commitment to the well-being of our nation’s Veterans.

“Health Net has a deep appreciation for the service and sacrifices of military members, their families and Veterans. We have a long history and sound record of hiring Veterans and military spouses. This formal initiative is a natural progression of our mission of service to military members, their families and the Veteran community,” said Tom Carrato, president of Health Net Federal Services. “We consider it good business to hire Veterans and are proud to be part of the Joining Forces and the Hero Health Hire efforts to ensure members of the military community successfully transition to civilian life.”

Key targets of the initiative include:

• Increasing hiring of Veterans and spouses by 10 percent over the next three years;
• Promoting and participating in recruitment opportunities such as military job fairs, conferences and online social media networks;
• Continuing to develop strategic relationships with Veteran and military organizations that support and foster employment opportunities, such as Hero Health Hire and Department of DefenseMilitary Spouse Employment Partnership, Iraq Afghanistan Veterans of America, Joining Forces, Military Officers Association of America (MOAA), and Blue Star Families; and
• Implementing a system to monitor and track Veteran employment objectives to ensure effectiveness and overall program success.

“Leadership ability and the strong sense of mission that comes from military service are characteristics that are highly valued in a competitive business environment,” added Carrato. “Today’s unacceptable high rate of Veterans’ unemployment has led to robust efforts in the public, private and not-for-profit sectors to reverse this trend, and Health Net is committed to do its part.”

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, through its subsidiaries, provides and administers health benefits to approximately 5.6 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. Health Net’s behavioral health services subsidiary, Managed Health Network, Inc., provides behavioral health, substance abuse and employee assistance programs to approximately 4.9 million individuals, including Health Net’s own health plan members. Health Net’s subsidiaries also offer managed health care products related to prescription drugs, and offer 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, the guidance as to expected future period results and 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), or 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 the dual-eligibles pilot programs; 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; any liabilities of the Northeast business that were incurred prior to the closing of its sale as well as those liabilities incurred through the winding-up and running-out period of the Northeast business; 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 filed with the SEC and the risks discussed in Health Net’s other 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 of its forward-looking statements to reflect events or circumstances that arise after the date of this release.

This release contains links to other sites that are not owned or controlled by Health Net. Please be aware that Health Net is not responsible for any contents linked or referred to from this release. Links to other websites are provided for the user’s convenience. Health Net does not express an opinion on the content or the properties of such linked websites and disclaims any liability in connection therewith.

Health Net Federal ServicesMolly Tuttle, 916-351-5355
[email protected]
or
Health Net, Inc.Margita Thompson, 818-676-7912
[email protected]

Source: Health Net Federal Services, LLC