Health Net posts plunge in profit, strikes deal with California
Tuesday, November 6, 2012 - 12:04
in Mathematics & Economics
Investors cheer the deal, which ends the insurer's litigation over reimbursement, extends Medi-Cal contracts and promises extra payments if new programs lead to unexpectedly big losses.Woodland Hills insurer Health Net Inc. said third-quarter net income plunged 71%, but its shares rose as the company resolved a dispute with California officials over reimbursement for government health programs.