NU Online News Service, Feb. 14, 10:54 a.m. – Health Net Inc., Los Angeles, is reporting $56 million in net income for the fourth quarter of 2001 on $2.5 billion in revenue, up from $46 million in net income on $2.4 billion in revenue for the fourth quarter of 2000.
The managed care company ended 2001 providing or administering major medical coverage for 5.5 million people, about as many people as it covered at the end of 2000.
Health Net administers health plans for 1.5 million military personnel, military retirees and dependents enrolled in the federal government’s Tricare program. The company insures 1 million members of Medicaid and Medicare programs, and it also insures 3 million people enrolled in commercial health plans.
Average revenue per insured member increased 5% in 2001, to $510.