UnitedHealthcare completes acquisition of Health Net's Northeast licenses

February 12, 2010

UnitedHealthcare has completed the acquisition of the Northeast's licensed subsidiaries of Health Net and has obtained rights to renew Health Net's membership in Connecticut, New York and New Jersey.

UnitedHealthcare has completed the acquisition of the Northeast's licensed subsidiaries of Health Net and has obtained rights to renew Health Net's membership in Connecticut, New York and New Jersey. The transaction has received all regulatory approvals required for completion.

As Health Net's commercial customers in the Northeast reach renewal dates, UnitedHealthcare will work to enroll them in a comparable Oxford or UnitedHealthcare plan. Until members are enrolled in a replacement plan, their current Health Net benefits remain in effect under their existing Health Net contracts. There will be no interruption to coverage or payments during this transition period.

Health Net will continue to administer all of the Health Net plans - commercial, Medicare and Medicaid - in the Northeast under administrative services agreements with UnitedHealthcare until members transition to UnitedHealthcare plans.