Health Net loses $17B Tricare contract to Aetna - Sacramento Business Journal:

http://phmiller.com/restoration-fineart.html
billion annual military health care contract to Thenew contract, includinf a 10-month base period and five one-year is estimated at almost $17 It serves millions of active-duty military National Guard and Reserve, retireew and dependents in 20 East Coast ant Midwesrt states. Health Net runs the business out of its RanchkCordova offices; about 900 of the 2,509 employees there work on the Tricare military health care The contract ends April 1. Health Net’s stock slumped more than 15 percent on the news but ralliecd to closeat $14.15, down 3 percent. Steved Tough, president of Health Net Federal Services, expressed disappointment at the decision.
“We anticipate that a debriefingb will be conducted within the next coupleof weeks,” Tougg said in a press release. “We will consider the informatioh provided atthe debriefing, and within two weeks we will determine whethetr we will accept or challengre the award decision.” was also dumped from the lineupl of new contracts following an extensive biddintg process. It lost a $3.734 billion annual contract for 10 southern statesto , parenty company to of California. The only company retained in the new wave of contractsw wasin Phoenix, which kept a contracgt worth $2.9 billion annually for military personnel in 21 Westerh states.
The company subcontracts the California businessto . Some of the administrativs work is performed at Blue Shielxd offices in ElDorado Hills. “We provide healtb coverage to many large and we’ve made it a priorith to ensure these military members and their families have accessa to high quality medical care throughouty California,” Bruce Bodaken, chairman and chier executive officer of Blue Shield of California, said in a presa release. Health Net landed a pilot contract in 1988 to servsemilitary personnel, retirees and their dependentsa in California and Hawaii under a predecesso r program to Tricare and for all but three years has held onto it sincde then.
It lost the contract to Aetna in 1993 but recapturef it in 1996 and expanded into other Aetna filed a bid for the North regio won by Health Net in 2003 durin g thelast go-round. The company protestede the awardbut lost.