Health Net, Inc. (NYSE:HNT) today announced that Bret A. Morris, 45, is
the new president of Health Net of Arizona, Inc., the company's health
plan subsidiary in Arizona. Morris replaces Chuck Sowers, who resigned
earlier this year. Morris had been Health Net's corporate controller.
Marie Montgomery, 46, replaces Morris as the new senior vice president
and corporate controller of Health Net, Inc. Previously, she was vice
president and chief financial officer of the company's Health Plan
Division.
Both changes are effective immediately.
For the past four years, Morris served as senior vice president and
controller with Health Net, Inc. He has more than 16 years of experience
in finance in the health insurance industry.
?Bret brings with him a wealth of industry experience and demonstrated
expertise in all areas of financial reporting,? said Steven Sell,
president, Western Region Health Plan, Health Net, Inc. ?He's the
perfect fit to lead Arizona and a great addition to the Western Region
Health Plan team.?
Prior to joining Health Net, Inc., Morris was chief financial officer,
Medicare Part D at UnitedHealth Group. Previously, he had a long career
with WellPoint, Inc., where he held several executive level positions.
Morris also was a senior manager at Price Waterhouse, LLP, and he served
in various positions at Coopers & Lybrand, LLP.
Morris earned a Bachelor of Science in Accounting from California State
University, Northridge and is a licensed Certified Public Accountant
(CPA).
?Marie's extensive health plan experience and strong accounting
background make her the ideal choice to step in as Health Net's
controller,? said Joseph C. Capezza, chief financial officer of Health
Net.
Montgomery joined Health Net in 2008 from Harvard Pilgrim Health Care
Inc. where she was senior vice president, controller and treasurer.
Previously, she held management positions with both for profit and
nonprofit payors, primarily in the Northeast. Montgomery began her
career more than 20 years ago at Deloitte & Touche serving health care
and insurance clients.
Montgomery holds a Bachelor of Arts in Accounting and Economics from
Queens College in New York and is a licensed CPA. She is a member of the
American Institute of Certified Public Accountants and the New York
State Society of CPAs.
About Health Net
Health Net, Inc. is among the nation's largest publicly traded managed
health care companies. Its mission is to help people be healthy, secure
and comfortable. The company's health plans and government contracts
subsidiaries provide health benefits to approximately 6.0 million
individuals across the country through group, individual, Medicare,
Medicaid and TRICARE and Veterans Affairs programs. Health Net's
behavioral health subsidiary, MHN, provides mental health benefits to
approximately 5.9 million individuals in all 50 states. The company'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 the company's
website at www.healthnet.com.
Cautionary Statements
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 subject to a number of risks
and uncertainties. These statements are based on management's analysis,
judgment, belief and expectation only as of the date hereof, and are
subject to uncertainty and changes in circumstances. Without limiting
the foregoing, statements including the words ?believes,? ?anticipates,?
?plans,? ?expects,? ?may,? ?should,? ?could,? ?estimate,? ?intend? and
other similar expressions are intended to identify forward-looking
statements. Actual results could differ materially due to, among other
things, costs, fees and expenses related to the post-closing
administrative services to be provided under the administrative services
agreements entered into in connection with the sale of our Northeast
business; potential termination of the administrative services
agreements by the service recipients should we breach such agreements or
fail to perform all or a material part of the services required
thereunder; 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;
health care reform; rising health care costs; continued recessionary
economic conditions or a further decline in the economy; negative prior
period claims reserve developments; trends in medical care ratios;
unexpected utilization patterns or unexpectedly severe or widespread
illnesses; membership declines; rate cuts affecting our Medicare or
Medicaid businesses; litigation costs; regulatory issues; operational
issues; 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 the company's most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission (?SEC?), and the risks discussed in the company's other
filings with the SEC. Readers are cautioned not to place undue reliance
on these forward-looking statements. The company undertakes no
obligation to publicly revise any of its forward-looking statements to
reflect events or circumstances that arise after the date of this
release.
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Health Net, Inc.
Investor Contact:
Angie McCabe, 818-676-8692
angie.mccabe@healthnet.com
or
Media
Contacts:
Margita Thompson, 818-676-7912
margita.thompson@healthnet.com
or
Lori
Rieger, 602-794-1415
lori.rieger@healthnet.com
