PHOENIX--(BUSINESS WIRE)--Health Net of Arizona, Inc., a subsidiary of Health Net, Inc. (NYSE: HNT), and Banner Health Network have collaborated to create Health Net ExcelCare, a new cost-effective commercial HMO network for Maricopa County and parts of Pinal County effective January 1, 2012. ExcelCare consists exclusively of nationally recognized Banner Health Network providers.
“We worked collaboratively with Banner Health, a longstanding strategic provider partner, to create this network and help make health care work for Arizonans,” said Bret Morris, president of Health Net of Arizona, Inc.
“Health Net has been focused on developing and introducing tailored networks in our western region markets,” said Steve Sell, president of Health Net’s Western Region Health Plan. “Tailored networks are rooted in very well-established relationships with our contracted providers and aim to provide a high level of quality care without a high price tag.”
“We are thrilled to introduce this product in Arizona,” added Morris. “Compared with the same level of coverage available through our full HMO network, employers selecting ExcelCare will experience significant premium savings.”
Offered to both small and large employer groups, Health Net ExcelCare is available in all of Maricopa County and parts of Pinal County. Members will have access to more than 2,650 Banner Health Network primary care physicians and specialists. Hospitals and facilities through ExcelCare include all of the Banner hospital facilities, including Cardon Children’s Hospital and the recently opened Banner MD Anderson Cancer Center.
“ExcelCare is designed to provide members with a trusted doctor-patient relationship, enhanced by a wellness incentive program, and delivers a highly coordinated patient experience,” said Marcus Wallace, M.D., Health Net of Arizona medical director. “These are important to maximizing health, helping to improve the patient experience and helping to deliver lower costs for members.”
About Health Net of Arizona
Health insurance products issued in Arizona by Health Net Life Insurance Company, a subsidiary of Health Net, Inc., are administered by Health Net of Arizona, Inc. Together, Health Net Life and Health Net of Arizona serve approximately 172,000 members and offer a wide spectrum of health care plans and specialty services, including coverage for vision, dental, life insurance, chiropractic and alternative medicine. Products include: Employer-sponsored Plans (HMO, PPO, POS and Indemnity); Medicare Advantage Plans; Individual and Family Plans (HMO and PPO); and access to a national provider network for PPO and POS products.
Health Net of Arizona has been serving Arizonans since 1981 and is proud to be selected as Arizona’s No. 1 HMO since 2005, based on the state’s largest business opinion poll, “Ranking Arizona.”
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, health care reform, including the ultimate impact of the Affordable Care Act, which could materially adversely affect Health Net’s financial condition, results of operations and cash flows through, among other things, reduced revenues, new taxes, expanded liability, and increased costs (including medical, administrative, technology or other costs), or require changes to the ways in which Health Net does business; rising health care costs; continued slow economic growth or a further decline in the economy; negative prior period claims reserve developments; trends in medical care ratios; membership declines; unexpected utilization patterns or unexpectedly severe or widespread illnesses; rate cuts affecting Health Net’s Medicare or Medicaid businesses; 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; litigation costs; regulatory issues with agencies such as the California Department of Managed Health Care, the Centers for Medicare & Medicaid Services and state departments of insurance; operational issues; noncompliance by Health Net or Health Net’s business associates with any privacy laws or any security breach involving the misappropriation, loss or other unauthorized use or disclosure of confidential information; 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 Health Net’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) and the risks discussed in Health Net’s subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as may be required by law, Health Net undertakes no obligation to address or publicly update any of its forward-looking statements to reflect events or circumstances that arise after the date of this release.