Health Net Providing Special Assistance to Members and Providers Affected by The Pack Fire in California

Health Net (NYSE: CNC) announced immediate assistance for members and providers affected by the Pack Fire after a State of Emergency was declared in Mono County on December 11, 2025.

Rhea-AI Summary

Health Net (NYSE: CNC) announced immediate assistance for members and providers affected by the Pack Fire after a State of Emergency was declared in Mono County on December 11, 2025. Key measures include suspended prescription refill limits when original pharmacies are closed, 24/7 behavioral health crisis support, free telehealth appointments, and referral access to local social services via 2-1-1.

For providers, Health Net will relax notification deadlines, waive prior authorization timing (notification still required), authorize out-of-network care if contracted providers are unavailable, approve post-admission notifications, accept updated clinical documentation, and authorize replacement medical equipment. Visit HealthNet.com for updates.

Argus Dec 11 session

+4.63% close to close Open Argus

Details

News Market Reaction – CNC

In the Dec 11 session, CNC gained 4.63%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement describes Health Net’s emergency support for members and providers affected by the...

Analysis

This announcement describes Health Net’s emergency support for members and providers affected by the Pack Fire, including relaxed prescription refills, telehealth access, and flexibility for out-of-network and post‑acute services. It fits a broader pattern of CNC-backed community and access initiatives seen in recent months. Against a backdrop of Q3 2025 revenue of $49.690 billion, a large goodwill impairment, and full‑year adjusted EPS guidance of at least $2.00, investors may watch how such programs intersect with utilization trends and costs.

Key Figures

Q3 2025 total revenue: $49.690 billion Q3 2025 GAAP net loss: $(6.631) billion Goodwill impairment: $6.723 billion +5 more

Q3 2025 total revenue

$49.690 billion

Reported in Q3 2025 Form 10-Q

Q3 2025 GAAP net loss

$(6.631) billion

Attributed to goodwill impairment in Q3 2025

Goodwill impairment

$6.723 billion

Recorded in Q3 2025 results

Adjusted diluted EPS

$0.50

Q3 2025 vs $1.62 a year ago

Cash and cash equivalents

$17.058 billion

Balance at Q3 2025 quarter end

Total debt

$17.583 billion

Includes senior notes and $2.0B term loan

2025 GAAP loss/share outlook

Not to exceed $(12.85)

Full-year 2025 guidance reaffirmed Nov 10, 2025

2025 adjusted EPS outlook

At least $2.00

Full-year 2025 guidance reaffirmed Nov 10, 2025

Historical Context

5 past events · Latest: Dec 02

5 events

1. Dec 02

   Community investment

   24h Move

   +2.4%

   Three-year $1.15M grant to expand Illinois mobile pantry program.

2. Nov 26

   Food insecurity support

   24h Move

   -0.5%

   $1.4M in 2025 investments to address California food insecurity.

3. Nov 25

   Nutrition programs

   24h Move

   +3.9%

   Washington initiatives delivering over 18M meals and Harvest Bucks benefits.

4. Nov 20

   Education initiatives

   24h Move

   -3.1%

   Three biosimilars education events on adoption and patient access.

5. Nov 20

   Food bank funding

   24h Move

   -3.1%

   $1.1M grant to California Association of Food Banks across 12 counties.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

medi-cal, telehealth, durable medical equipment, tty, +2 more

6 terms

medi-cal medical

"one of California's most experienced Medi-Cal managed care health plans"

Medi‑Cal is California’s government-run health insurance program that pays for medical care for low-income individuals and families. It matters to investors because it acts like a very large customer with set payment rules and wide reach: changes in Medi‑Cal enrollment, reimbursement rates, or coverage rules can directly affect revenues and cash flow for hospitals, clinics, drugmakers and insurers that rely on its payments, much like a major client changing contract terms.

telehealth medical

"Health Net offers telehealth services at no cost."

Telehealth is the delivery of healthcare services and consultations remotely using video calls, phone, text messaging, or connected devices to monitor and transmit medical information. It matters to investors because it can reshape how patients access care, lower costs, and create new revenue streams or risks for healthcare providers, insurers and technology companies—similar to how online banking changed financial services—while also exposing businesses to reimbursement and regulatory shifts.

durable medical equipment medical

"for acute services, post-acute care, durable medical equipment (DME),"

Durable medical equipment (DME) includes long-lasting devices used to help people manage health conditions and improve mobility, such as wheelchairs, hospital beds, and oxygen machines. These items are designed to be reused and are often covered by health insurance. For investors, DME represents a steady market because demand remains consistent as populations age and healthcare needs grow.

tty technical

"by calling 1-800-400-8987 (TTY: 711)."

TTY stands for teletypewriter, a communication device or telephone feature that lets people who are deaf or hard of hearing send and receive typed messages over phone lines. Investors will most often see TTY listed in contact or investor relations details; it signals that a company provides accessible ways for all stakeholders to ask questions, request information, or participate in calls, which matters for transparency, regulatory compliance, and broad investor engagement.

out-of-network financial

"get their prescriptions at an out-of-network pharmacy."

Out-of-network describes a healthcare provider or service that does not have a payment agreement with a patient’s health insurer, so the insurer may cover less of the cost or none at all and the patient can face higher bills. For investors, out-of-network status influences how much hospitals, clinics and insurers collect, affects patient choice and volume, and creates revenue uncertainty and regulatory risk—like buying from a store that doesn’t accept your discount card, which can be pricier and less predictable.

post-acute care medical

"for acute services, post-acute care, durable medical equipment"

Post-acute care is the medical and support services people receive after leaving a hospital, such as rehabilitation, nursing facility stays, home health visits, and therapy programs. It matters to investors because it influences how quickly and fully patients recover, affects hospital readmission rates and ongoing treatment costs, and represents a steady revenue area in healthcare—like routine maintenance after a major repair that determines long-term performance and expense.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SACRAMENTO, Calif., Dec. 11, 2025 /PRNewswire/ -- Following Gov. Newsom's declaration of a State of Emergency in Mono County, Health Net, one of California's most experienced Medi-Cal managed care health plans and company of Centene Corporation (NYSE: CNC), is taking immediate action to support those affected by the Pack Fire. The company's priority is ensuring both its members and healthcare providers have the resources they need during this critical time.

Member Prescription Information

During a declared State of Emergency, impacted members have two options to secure an emergency supply of their medications:

1. Members can fill their prescription at the original pharmacy if it is open.
2. If the original pharmacy is not open, members can call Health Net at 1-800-400-8987. We will suspend refill limitations so they can get their prescriptions at an out-of-network pharmacy.

Coping Support for Members 

Members can call Health Net Behavioral Health Services for crisis support 24 hours a day, seven days a week by calling 1-800-400-8987 (TTY: 711). This includes:

• Support to help them deal with grief, stress or trauma
• Referrals to mental health counselors, local services and telephone consultations

Members: Video Medical Appointments

If members cannot reach their primary care provider during a declared State of Emergency, Health Net offers telehealth services at no cost. Members can find appointment instructions in two places:

1. On the back of their Health Net ID card
2. On HealthNet.com after registering and signing in

Access to Social Services

To connect with local community resources, members can call 2-1-1 or visit 211.org for help with:

• Emergency shelter, food and transportation
• Social services and financial assistance
• Legal guidance from verified agencies

Information for Healthcare Providers

During a declared State of Emergency, doctors and nurse practitioners may call Health Net at 1-800-641-7761 for assistance. To support these participating providers in affected areas, Health Net will:

• Extend grace periods for notifications, beginning on the admission date, for acute services, post-acute care, durable medical equipment (DME), medical supplies and home health care services
• Waive prior authorization – however, our notification requirement will remain in effect despite relaxed deadlines

In addition, Health Net will:

• Authorize out-of-network services if a contracting provider or facility becomes unavailable
• Grant post-admission notification approvals for impacted facilities.
• Accept updated clinical documentation for continued-stay reviews.
• Authorize the replacement of medical equipment or supplies.
• Suspend prescription refill limitations for impacted enrollees

Ongoing Support & Updates

As the situation evolves, Health Net may take further action to support members and providers. For the latest updates, visit HealthNet.com.

About Health Net
Founded in California more than 45 years ago, Health Net, LLC ("Health Net"), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 118,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com.

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SOURCE Health Net

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What emergency prescription options does Health Net (CNC) offer Pack Fire evacuees on December 11, 2025?

Members can refill at their original pharmacy if open or call 1-800-400-8987 to get an emergency supply at an out-of-network pharmacy with refill limits suspended.

How can Health Net (CNC) members get mental health support during the Pack Fire emergency?

Behavioral health crisis support is available 24/7 at 1-800-400-8987 (TTY 711) for grief, stress, referrals, and telephone consultations.

Will Health Net (CNC) cover telehealth if primary care is unavailable due to the Pack Fire?

Yes. During the declared emergency, telehealth appointments are offered at no cost; members can follow instructions on the back of their ID card or sign in at HealthNet.com.

What provider flexibilities did Health Net (CNC) announce for the Pack Fire on December 11, 2025?

Providers can call 1-800-641-7761; Health Net will extend grace periods for notifications, waive prior authorization timing, authorize out-of-network care, and accept updated clinical documentation.

How can Health Net (CNC) members find local social services during the Pack Fire emergency?

Members can call 2-1-1 or visit 211.org for shelter, food, transportation, financial help, and verified legal guidance.

Where will Health Net (CNC) post ongoing updates about Pack Fire member and provider support?

Health Net will post further actions and updates on HealthNet.com as the situation evolves.