Health Net Names Bret Morris President of Arizona Health Plan; Marie Montgomery to Replace Morris as Corporate Controller

LOS ANGELES--(BUSINESS WIRE)-- 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6296331&lang=en



CONTACT:

Health Net, Inc.
Investor Contact:
Angie McCabe, 818-676-8692
[email protected]
or
Media Contacts:
Margita Thompson, 818-676-7912
[email protected]
or
Lori Rieger, 602-794-1415
[email protected]

KEYWORDS:   United States  North America  Arizona  California

INDUSTRY KEYWORDS:   Health  Professional Services  Insurance  Managed Care

MEDIA:

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Bret A. Morris, 45, President, Health Net of Arizona, Inc. (Photo: Business Wire)
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Marie Montgomery, 46, SVP and Corporate Controller Health Net, Inc. (Photo: Business Wire)

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