Cora Tellez to Resign From Health Net, Inc.Business Editors LOS ANGELES--(BUSINESS WIRE)--April 25, 2002 Health Net, Inc. (NYSE NYSE See: New York Stock Exchange :HNT HNT Hostage Negotiation Team ) today announced that Cora Tellez, president of Health Net's Health Plans Division, will resign her position effective April 30, 2002. "Since her arrival in 1998, Cora played an integral role in Health Net's successful turnaround," said Jay Gellert Jay Gellert (born 1956 in New York City, New York) is the current CEO and President of Health Net, Inc. , president and chief executive officer of Health Net, Inc. "Her dedication and focus helped restore Health Net of California's superior performance and reputation as one of the state's leading health plans. "Cora came here with a specific mission -- to revitalize our California operations -- and she exceeded our expectations," added Gellert. "On behalf of Health Net's Board of Directors and more than 9,000 associates, I want to thank Cora for her leadership and all of her efforts to improve Health Net's performance and position us for an even stronger future." Tellez joined Health Net in November of 1998 as president and chief executive officer of the company's California health plan subsidiary, Health Net of California. In January of 2000, Tellez became president of Health Net's Western Division, which included health plans in Arizona, California and Oregon. In January of 2001, Tellez became president of the company's Health Plans Division, overseeing health plans in Arizona, California, Connecticut, New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Oregon and Pennsylvania. In this position, Tellez also oversaw Health Net's life, dental and vision subsidiaries, as well as its pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. subsidiary, Health Net Pharmaceutical Services. "I've had an incredible experience at Health Net," said Tellez. "We accomplished so much in such a short period of time -- and I have great confidence in Health Net's future. "I've gained a great deal from my experience at Health Net -- and have now completed what I set out to do," added Tellez. "It is time for me to start another phase of my life -- and I do so knowing that Health Net of California is in the experienced hands of its new president, Chris Wing, and is poised for a solid future." On April 10, 2002, Health Net named Christopher Wing as president of Health Net of California, the company's largest health plan with approximately 2.4 million commercial, Medicare and Medicaid Medicare and Medicaid U.S. government programs in effect since 1966. Medicare covers most people 65 or older and those with long-term disabilities. Part A, a hospital insurance plan, also pays for home health visits and hospice care. members. Wing now reports directly to Gellert. Prior to joining Health Net, Tellez served as president and chair of Prudential Health Care Plan of California, Inc., where she was responsible for operations in Arizona, California and Colorado. Prior to this, she served Blue Shield of California Blue Shield of California is a not-for-profit health insurance provider headquartered in San Francisco, California. An independent licensee of the Blue Cross and Blue Shield Association, Blue Shield of California is an incorporated, wholly owned subsidiary of California Physicians' for three years as senior vice president and regional chief executive officer. Health Net, Inc. is one of the nation's largest publicly traded managed health care companies. Its mission is to enhance quality of life for its customers by offering products distinguished by their quality, service and affordability. The company's HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , insured PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there and government contracts subsidiaries provide health benefits to approximately 5.5 million individuals in 15 states through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's subsidiaries also offer managed health care products related to behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or , dental, vision and prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs. For more information on Health Net, Inc., please visit the company's Web site at www.health.net. |
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