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Business Description
Health Net, Inc. is an integrated managed care organization that delivers managed healthcare services. The health plans and government contracts subsidiaries provide health benefits through its health maintenance organizations (HMOs), insured preferred provider organizations (PPOs) and point-of-service (POS) plans to 5.3 million individuals in 14 states through group, individual, Medicare, Medicaid and TRICARE programs. In addition, it owns health and life insurance companies licensed to sell exclusive provider organization (EPO), PPO, POS and indemnity products, as well as auxiliary non-health products, such as life and accidental death and disability insurance in 36 states and the District of Columbia. It operates within two segments: Health Plan Services and Government Contracts. In October 2003, it sold certain of its workers' compensation services subsidiaries organized under Health Net Employer Services, Inc. (HN Employer Services) to First Health Group Corp. (First Health).

Financial Information
For the nine months ended 9/30/04, total revenues rose 6% to $8.78 billion. Net income from continuing operations fell 45% to $128.2 million. Revenues reflect increased government contracts and health plan services premiums. Earnings were offset by increased selling costs and the inclusion of severance and related benefits expense.