Health Net, LLC, a subsidiary of Centene Corporation, is an American health care insurance provider. Health Net and its subsidiaries provide health plans for individuals, families, businesses and people with Medicare and Medicaid, as well as commercial, small business, and affordable care insurance. In July 2015, Centene announced it would acquire Health Net for $6.8 billion and completed its acquisition in March 2016. Health Net was established as the nonprofit Health Net of California in 1977 by Blue Cross. In 1992, a California order permitted the company to convert from a nonprofit to a for-profit company. Under the terms of the California Department of Corporations' conversion order, the California Wellness Foundation, the successor charity to its nonprofit status, received $300 million plus 80 percent of the equity of Health Net's parent holding company. More information...
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