Health Net Wins Military Health Plan Contract
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Health Net Inc., one of California’s largest health insurers, won a contract valued at $1.4 billion to provide health coverage to U.S. military personnel, their dependents and retirees.
Woodland Hills-based Health Net said it had obtained the North region contract of the federal government’s Tricare program, which covers 1.7 million eligible beneficiaries in 20 states and the District of Columbia.
But because Health Net lost its bid to maintain its western region Tricare contract, the company basically broke even.
“It’s a wash,” said Health Net spokesman Lisa Haines.
Among those eligible for Tricare coverage are dependents of reservists called for active duty.
Health Net’s West region was providing the company about the same number of beneficiaries and amount of revenue as it gained in winning the North region contract.
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