health net inc (HNT) Key Developments
Health Net Names Peter O’Neill as Vice President of Investor Relations and Corporate Communications
Mar 2 15
Health Net, Inc. announced that it has named Peter O’Neill, vice president, Investor Relations and Corporate Communications, effective March 2, 2015. This is a new position. O’Neill previously held management positions at UnitedHealthcare of Nevada, Sierra Health Services, Inc. and WellPoint Health Networks, Inc. O’Neill will be based in Health Net’s Woodland Hills, Calif., office. He will report to James Woys, Health Net’s chief financial and operating officer and interim treasurer.
Health Net, Inc. Presents at Cowen and Company 35th Annual Healthcare Conference, Mar-03-2015 09:20 AM
Feb 18 15
Health Net, Inc. Presents at Cowen and Company 35th Annual Healthcare Conference, Mar-03-2015 09:20 AM. Venue: The Boston Marriott Copley Place, Boston, Massachusetts, United States.
Tenet Healthcare Corporation and Health Net, Inc. Sign New Agreement to Provide Health Net Members with In-Network Access
Feb 11 15
Tenet Healthcare Corporation and operating subsidiaries of Health Net, Inc. have signed a new agreement providing Health Net members with in-network access to 59 Tenet hospitals, 129 outpatient centers and more than 1,600 employed physicians in 12 states through 2016. The new agreement continues the in-network access available to members under Health Net’s commercial HMO/PPO, Medicare Advantage, Medicaid and TRICARE arrangements. Also, for the first time, veterans in nine states gain access to Tenet’s facilities and physicians through Health Net’s agreement with the Department of Veterans AffairsPatient-Centered Community Care (PC3) program The PC3 program supplements the healthcare capabilities of the Veterans Health Administration by expanding access for eligible veterans to primary care, specialty care and behavioral healthcare services offered by community hospitals, outpatient centers and other providers.
Health Net, Inc. Revised Consolidated Earnings Guidance for the Full Year Ending December 31, 2015
Feb 10 15
Health Net, Inc. revised consolidated earnings guidance for the full year ending December 31, 2015. For the year, the company expects total consolidated revenues of $17.2 billion compared to previous guidance of $17.4 billion. GAAP tax rate is to be 56.7% compared to previous guidance of 57.4%. GAAP earnings per diluted share is to be at least $2.70 compared to previous guidance of at least $2.55.
Health Net, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year Ending December 31, 2015; Reports Asset Impairment for the Fourth Quarter of 2014
Feb 10 15
Health Net, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenue of USD 3,758.389 million compared to USD 2,743.244 million a year ago. Income from operations before income taxes was USD 16.307 million compared to USD 28.042 million a year ago. Net income was USD 4.914 million compared to USD 19.753 million a year ago. Basic and diluted income per share was USD 0.06 compared to USD 0.25 a year ago. Net cash used in operating activities was USD 109.662 million compared to USD 71.886 million a year ago. Purchases of investments were USD 303.749 million compared to USD 70.179 million a year ago. Purchases of property and equipment were USD 13.615 million compared to USD 16.929 million a year ago.
For the year, the company reported total revenue of USD 14,008.586 million compared to USD 11,053.743 million a year ago. Income from operations before income taxes was USD 199.792 million compared to USD 269.953 million a year ago. Net income was USD 145.629 million compared to USD 170.126 million a year ago. Diluted income per share was USD 1.80 compared to USD 2.12 a year ago. Net cash from operating activities was USD 776.001 million compared to USD 95.839 million a year ago. Purchases of investments were USD 665.200 million compared to USD 722.223 million a year ago. Purchases of property and equipment were USD 62.010 million compared to USD 59.525 million a year ago.
The company expected GAAP earnings per diluted share of at least USD 2.70 for the full year 2015. The table included in this release provides specific metrics. 2015 GAAP earnings per diluted share guidance of at least USD 2.70 is based primarily on the company’s expectation of an approximately 9% increase in membership and an approximately 23% increase in total revenues; stable MCRs in the commercial, Medicare and Medicaid lines of business; and an approximately 50 basis point decline in the company's administrative expense ratio in 2015 compared with 2014 results,.
For the fourth quarter of 2014 the company reported asset impairment of USD 3.846 million.