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Health Net and Bank of America Launch Partnership
Date:10/3/2007

Bank of America shares our vision to serve consumers when they make their health care decisions," said Kathleen Richard, Enterprise Officer of Health Net. "Health Net and Bank of America understand the complexity, and the rising cost of health care. This partnership will provide an alternative option to employers and individuals who wish to improve their health care experience while curbing their rising medical costs."

HSAs, created by the Medicare Prescription Drug Improvement and Modernization Act in 2003, provide customers the opportunity to save money and to pay for qualified medical expenses on a tax-advantaged basis. Funds contributed to an HSA belong to customers, are completely portable, and can be invested in a number of different investment vehicles. A portable HSA, such as that provided by Bank of America, provides a long-term consistent account that moves with consumers through all of their life's changes, including a new job, or even retirement.

"We are excited about the opportunity to partner with Health Net to offer their members the chance to both save money and make better financial and health related decisions," said Keith Pellerin, Bank of America Insurance Products Group executive. "Providing members with more power and choice about their health care spending will enable them to become more savvy consumers of the health care system."

About Health Net

Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's health plans and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net's behavioral health subsidiary, MHN, provides mental health benefits to approximately 7.0 million individuals in all 50 states. The company's subsidiaries also offer managed
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SOURCE Bank of America
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