Higher Premiums Boost Net Income at Health Net

Woodland Hills-based insurer Health Net Inc. said quarterly earnings rose on higher premiums, but gains were offset in part by lower revenue and charges related to the settlement of a physician class-action lawsuit.

Health Net reported first-quarter net income of $21.3 million, or 19 cents a share, compared with $15 million, or 13 cents, a year earlier. Revenue fell slightly to $2.91 billion from $2.92 billion a year ago.