Health Net's Profit and Loss

November 11, 2007

Health insurer tied bonuses to dropping sick policyholders

One of the [California’s] largest health insurers set goals and paid bonuses based in part on how many individual policyholders were dropped and how much money was saved.Woodland Hills-based Health Net Inc. avoided paying $35.5 million in medical expenses by rescinding about 1,600 policies between 2000 and 2006. During that period, it paid its senior analyst in charge of cancellations more than $20,000 in bonuses based in part on her meeting or exceeding annual targets for revoking policies, documents disclosed Thursday showed.

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