Health Net Awarded Medi-Cal Dental Contracts in Los Angeles and Sacramento Counties

  Health Net Awarded Medi-Cal Dental Contracts in Los Angeles and Sacramento
  Counties

Business Wire

LOS ANGELES -- January 28, 2013

The California Department of Health Care Services has awarded Health Net of
California, Inc., a subsidiary of Health Net, Inc. (NYSE: HNT), five-year
contracts to continue providing Medi-Cal managed care dental benefits in Los
Angeles and Sacramento counties.

“We’re delighted the state recognized Health Net’s quality and value in
providing critical access to dental care for Los Angeles and Sacramento county
residents,” said DavidFriedman, vice president of State Health Programs for
Health Net of California. “We are committed to our partnership with dental
care providers and the state to help provide Medi-Cal dental beneficiaries
with continued access to quality care.”

In both Los Angeles and Sacramento counties, Health Net is the only Medi-Cal
dental plan that covers non-emergency services for both children and adults.

Health Net began providing services under the Sacramento contract on January
1, 2013, and is scheduled to begin providing services under the Los Angeles
contract by July1, 2013, subject to the parties agreeing to final terms and
conditions.

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 5.4million 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, 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; 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 Reports 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 of its
forward-looking statements to reflect events or circumstances that arise after
the date of this release.

This release contains a link to another site that is not owned or controlled
by Health Net. Please be aware that Health Net is not responsible for the
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.

Contact:

Health Net, Inc.
Brad Kieffer, 818-676-6833
brad.kieffer@healthnet.com
twitter.com/hn_bradkieffer