Current Report Filing (8-k)
June 11 2014 - 5:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of Earliest Event Reported):
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June 10, 2014
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Health Net, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware
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1-12718
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95-4288333
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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21650 Oxnard Street, Woodland Hills, California
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91367
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code:
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(818) 676-6000
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Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure.
Members of the management team of Health Net, Inc. (the Company) expect to meet with
investors and analysts at the Goldman Sachs 35th Annual Global Healthcare Conference
(the Conference) on June 11, 2014, where the Company is also scheduled to give a presentation at
approximately 8:00 a.m. Pacific time.
During the presentation and meetings, the Company intends to address its prospects and
historical performance, and reaffirm the Companys earnings guidance for the full year 2014, as
previously announced in a press release issued on May 7, 2014.
A live audio webcast of the Companys presentation at the Conference will be available in the
Investor Relations section of the Companys website. A replay of this presentation will be
available in the Investor RelationsPresentations and Webcasts section of the Companys website
at www.healthnet.com. The Companys website address is included for reference only. The
information contained on the Companys website is not part of this Current Report on Form 8-K and
is not incorporated by reference herein.
The information in this Item 7.01 shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in any Company filing under the
Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.
CAUTIONARY STATEMENTS: The Company 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 reports, in press releases,
presentations, filings with the Securities and Exchange Commission (SEC), reports to stockholders
and in meetings with investors and analysts. All statements in this report, 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 managements 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 taxation or regulation of health benefits and managed
care operations, including but not limited to the implementation of the Patient Protection and
Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the
ACA) and related fees, assessments and taxes; the Companys ability to successfully participate
in Californias Coordinated Care Initiative, which is subject to a number of risks inherent in
untested health care initiatives and requires the Company to adequately predict the costs of
providing benefits to individuals that are generally among the most chronically ill within each of
Medicare and Medi-Cal and implement delivery systems for benefits with which the Company has
limited operating experience; the Companys ability to successfully participate in the federal and
state health insurance exchanges under the ACA, which have experienced technical challenges in
implementation and which involve uncertainties related to the mix and volume of business that could
negatively impact the adequacy of our premium rates and may not be sufficiently offset by the risk
apportionment provisions of the ACA; increasing health care costs, including but not limited to
costs associated with the introduction of new treatments or therapies; our ability to reduce
administrative expenses while maintaining targeted levels of service and operating performance;
negative prior period claims reserve developments; rate cuts and other risks and uncertainties
affecting the Companys Medicare or Medicaid businesses; the Companys ability to successfully
participate in Arizonas Medicaid program; trends in medical care ratios; membership declines or
negative changes in our health care product mix; unexpected utilization patterns or unexpectedly
severe or widespread illnesses; the timing of collections on amounts receivable from state and
federal governments and agencies, including collections of amounts owed under the T-3 contract;
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; changes in economic or market conditions including a further decline
in the economy; failure to effectively oversee our third-party vendors; noncompliance by the
Company or the Companys business associates with any privacy laws or any security breach involving
the misappropriation, loss or other unauthorized use or disclosure of confidential information;
impairment of the Companys goodwill or other intangible assets; investment portfolio impairment
charges; volatility in the financial markets; liabilities incurred in connection with the Companys
divested operations; 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
the Companys 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 the Companys filings with the SEC. Readers are
cautioned not to place undue reliance on these forward-looking statements. Except as may be
required by law, the Company undertakes no obligation to address or publicly update any
forward-looking statements to reflect events or circumstances that arise after the date of this
report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Health Net, Inc. |
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June 10, 2014
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By:
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/s/ Joseph C. Capezza |
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Name:
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Joseph C. Capezza |
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Title:
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Executive Vice President, Chief
Financial Officer and Treasurer |
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