Health Net Insurance Company
Health Net Insurance Company
21650 Oxnard Street,
Woodland Hills, CA 91367
Health Net Insurance Company is among the largest sources of healthcare insurance plans in the United States. It offers various health insurance policies for individuals, seniors and businesses. Throughout the country, the company has a network of healthcare professionals including a vast number of hospitals and medical doctors that offer the insurers convenience and easy access to physicians in their local area. Around seven million individuals from the Atlantic to the Pacific own a healthcare plan from Health Net. Founded in 1985, Health Net currently has a company size of 10,000 employees and revenue of $12,908,000.
The company presently conducts business in 27 states in U.S. and the Columbia District, with its headquarters located in Woodland Hills, California. Health Net’s health plans and government contracts subsidiaries offer health benefits through health maintenance organizations (HMOs), insured preferred provider organizations (PPOs), point-of-service (POS) and indemnity plans for individual, groups, Medicare, Medicaid, TRICARE and Veterans Affairs programs. They conduct business within three segments: Northeast Operations, West Operations and Government Contracts.
The company’s Northeast Operations reportable division comprises operations of businesses that supply administrative services to United and its affiliates according to the United Administrative Services Agreements. The company’s West Operations division includes operations of commercial, Medicare, and Medicaid health plans. Also, the said division includes operations of life and health insurance companies and its pharmaceutical services subsidiaries and behavioral health in Arizona, California, and Oregon. The company’s Government Contracts division comprises TRICARE contract for the North Region and other healthcare-related government agreements that it conducts for the U.S. Department of Defense and the U.S. Department of Veterans Affairs. Its entirely owned subsidiary, Health Net Federal Services, LLC (HNFS), runs a sizeable managed care federal contract with the Department of Defense. This is under the TRICARE program in the North Region, which likewise provides healthcare services to roughly 3.1 million Military Health System (MHS)-qualified beneficiaries, including 1.8 million TRICARE entitled individuals for whom it supplies healthcare and administrative services, plus another 1.3 million other MHS-qualified beneficiaries for whom it supplies only administrative services.
Aside from healthcare plans, Health Net also has partners offering subsidiary programs, including behavioral health services subsidiary and managed health network which provide behavioral health, substance abuse and employee assistance programs to approximately 6.5 million individuals, including health plan members themselves. In addition, its subsidiaries provide managed healthcare products associated with prescription drugs. Managed healthcare product coordination for multi-region employers and administrative services for self-funded benefits programs are likewise offered.
The company has a large health plan portfolio for a wide range of needs. For individuals, it offers Quick Net Plan, which is a short-term insurance option that lasts up to six months. Individuals can also avail of First Choice, Value Choice, and Simple Choice which are PPO plans, offering members adjustable coverage and tending from any hospital or physician. There are also The HMO 40 and HMO 15 which are the most inexpensive options for comprehensive coverage and care. HMO 40 has small monthly premiums while HMO 15 includes lower copayments.
For seniors citizens or individuals older than 65 years, Health Net provides more reasonably priced medical care supplement and advantage plans. There is also provision for optional vision and dental coverage combined with personal term insurance. Large and small businesses can avail of products from a selection of PPO, POS, and HMO plans.