 |
July 25, 2006
GUARDIAN AND HEALTH NET INTRODUCE NEW PORTFOLIO OF PRODUCTS FOR SMALL BUSINESSES IN NEW JERSEY
Healthcare Solutions Outlook Offers Small Employers Choice of 28 Unique Plan Designs, Provides Long-Term Cost Controls and Empowers Employees to Become More Prudent Health Care Consumers
Shelton, Conn., July 25, 2006 — The Guardian Life Insurance Company of America (Guardian) and Health Net of the Northeast, Inc., today announced the launch of a new Healthcare Solutions portfolio of health plans for New Jersey small business employers designed to empower employees to become more prudent health care consumers and provide a wide selection of plan design choices and long-term cost controls.
The new portfolio, called "OutlookSM," offers employers a wide range of cost-saving features such as higher copayments, split copayments and in-network deductibles and coinsurance. Employers can offer several Outlook options, allowing employees the freedom to select a health plan that meets their individual needs.
"Consumer-driven decision making is becoming more a part of every health care choice," said Steve Nelson, president, Health Net of the Northeast. "Our Healthcare Solutions Outlook products include member decision-making tools that empower people to become more prudent health care consumers. Armed with the right tools and resources, consumers can make the necessary, personal decisions about how they spend their health care dollars and whether it makes more sense for them to choose a low monthly premium with a high deductible or a modest monthly premium with a smaller amount of shared costs."
The New Jersey Healthcare Solutions Outlook portfolio offer small employers 28 plan designs with a variety of benefits at different price points. All Healthcare Solutions Outlook plans are open access (no primary care physician (PCP) referral required). There are 14 Outlook POS (Point-of-Service) plan designs and 14 Outlook HMO (Health Maintenance Organization) plans all offering in-network copayment options or in-network deductible and coinsurance options with copayments for physician office visits. Many of the plans also offer split copayment options for PCPs and specialists.
To help members take control of health care decisions, Healthcare Solutions offers access to Decision Powersm, Health Net's health support program. Decision Power combines traditional disease management and health promotion to provide a fully integrated system with support tools and resources proven to make a difference in patient satisfaction and utilization trends.
"Small employers face unique challenges in providing quality health care benefits at affordable prices," added James Lasko, assistant vice president, Guardian. "Healthcare Solutions Outlook portfolio of products addresses these challenges and offers solutions. We make it easier for small business employers to formulate a long-term cost-containment strategy while offering high-quality benefits to their employees."
About Health Net
Health Net of the Northeast, Inc., headquartered in Shelton, Conn., employs approximately 1,800 associates in Connecticut, New Jersey and New York. Health Net of the Northeast, through its subsidiaries, offers full-service health plans that serve nearly one million members in the tri-state area. The Northeast health plans offer a wide array of products including: Health Maintenance Organization (HMO), Point-of-Service (POS), Preferred Provider Organization (PPO), third-party administration, Medicare and Medicaid. With a physician network comprising more than 90,000 physician and provider office locations, Health Net is one of the largest health plans in the northeast, offering a full array of open-access products and coordination for multi-region employers.
Health Net of the Northeast is a subsidiary of Health Net, Inc. (NYSE:HNT). 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 HMO, POS, insured PPO and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's behavioral health services subsidiary, MHN, provides mental health benefits to approximately 7.3 million individuals in all 50 states, including the company's own health plan members. 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 Web site at www.healthnet.com.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is one of the largest mutual life insurance companies in the United States. As of December 31, 2005, Guardian and its subsidiaries had $40.7 billion in assets (on a GAAP basis). With more than 5,000 employees and 3,000 financial representatives, as well as over 85 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses, and their employees with life, disability, health, long-term care, and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at: www.GuardianLife.com.
Cautionary Statements
Certain matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve a number of risks and uncertainties. All statements, other than statements of historical information provided herein, may be deemed to be forward-looking statements. 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, 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, rising health care costs, negative prior period claims reserve developments, trends in medical care ratios, issues relating to provider contracts, operational issues, health care reform and general business 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 filed with the SEC and the risks discussed in the company's other periodic 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 these forward-looking statements to reflect events or circumstances that arise after the date of this release.
| |
