State Delays Action on HMO: Health Net,...
From Times Staff and Wire Reports
State Delays Action on HMO: Health Net, the state’s second-largest health maintenance organization, said it was told by the state Department of Corporations that the agency has delayed its ruling on Health Net’s proposal to switch from nonprofit status to a for-profit corporation that would be owned by Health Net’s management. As part of the plan, Health Net, a Woodland Hills-based HMO with 840,000 members, was to contribute $108 million--representing its fair market value--to a public health foundation.
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