Health Net

What Health Net does

Health Net is a California-headquartered health insurance company founded in 1977 that operates as a wholly-owned subsidiary of Centene Corporation following a 2016 acquisition valued at approximately $6.8 billion. It serves more than three million members across California and Oregon through Medi-Cal managed care plans, Medicare Advantage products marketed as Wellcare by Health Net, individual and family plans marketed as Ambetter from Health Net, and small and large employer group plans. The company contracts with a network of 118,000+ providers and operates through enterprise field sales, broker channels, the Covered California marketplace, direct enrollment, and community-based outreach including promotora-led programs.

The underlying technology stack combines a population health management platform with chronic disease programs (asthma, COPD, diabetes, heart disease, behavioral health), telehealth services delivered through Teladoc, the Krames Online patient education library, Sharecare wellness tools, and a self-service member portal with mobile app. Health Net is HIPAA, CCPA, and GDPR compliant, supporting multilingual member services in 14+ languages. The product portfolio is unified across all plan types through shared infrastructure for behavioral health, pharmacy benefits, maternity and dyadic services, and same-day care access.

Health Net's revenue model is dominated by capitation and per-member-per-month premiums from government payers: Medi-Cal capitation from the California Department of Health Care Services and Medicare Advantage premiums from CMS, with secondary revenue from commercial premiums and government-managed services contracts. The company has made substantial community investments totaling $284 million from 2020 to 2025 across affordable housing, food security, mobile clinics, physician workforce, and CalAIM-aligned social supports, signaling a strategic shift toward integrated medical and social care delivery for vulnerable populations.

Name

Health Net

Legal name

Health Net of California, Inc.

Website

https://healthnet.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Health Net is a California-based health insurance subsidiary of Centene Corporation, serving 3+ million members across California and Oregon through Medi-Cal managed care, Medicare Advantage (Wellcare by Health Net), and individual, family, and employer group plans delivered via a 118,000+ provider network.

Ownership category

akta.pro rank

Product category

Managed Health Care Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114), Health and Welfare Funds (525120), Health Care and Social Assistance (62)

SIC

Hospital & Medical Service Plans (6324), Insurance Agents, Brokers & Service (6411), Services-Health Services (8000)

akta.pro primary industry

Large Group Health Insurance (Mid-Market & National Accounts) (FSAIAFAE)

akta.pro secondary industries

Small Group Health Insurance (2–50/100) (FSAIAFAD), Healthcare-Linked Social Benefits Administration (e.g., Medicaid/Means-Tested Health Coverage) (BPAIAKAH), General Medical Virtual Primary Care (Payer-Branded) (HLALACAA), Care Navigation, Advocacy & Benefits Guidance Platforms (HLALADAJ)

Keywords

• Health insurance plans
• Medi-Cal managed care
• Medicare Advantage plans
• Individual family coverage
• Employer group health benefits

Headquarters

HQ city

Woodland Hills

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Medi-Cal Managed Care Premiums: Health Net generates revenue through capitation payments from the California Department of Health Care Services for managing Medi-Cal beneficiary care. The company receives per-member-per-month premiums to provide comprehensive health coverage including medical, behavioral, and social services.
2. Medicare Advantage Premiums: Medicare Advantage plans (HMO, HMO SNP, PPO) generate premium revenue from CMS and member cost-sharing for covered benefits including hospital, medical, and prescription drug coverage.
3. Commercial Insurance Premiums: Individual, family, small business, and large employer group health insurance plans generate premium revenue through employer-sponsored coverage and marketplace plans.
4. Government Contracts: Contracts with California state agencies and Los Angeles County for specialized programs including CalAIM, housing support services, and community health initiatives.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Health Net provides managed health care coverage plans including Medi-Cal managed care, Medicare Advantage (Wellcare by Health Net), Individual & Family Plans (Ambetter from Health Net), and Small Business and Large Employer group plans for over 3 million members across California. The company also delivers integrated member services such as behavioral health, telehealth, pharmacy benefits, maternity care, and population health management programs for chronic conditions, supported by a network of more than 118,000 providers.

Product overview

Health Net is a California-based health insurance provider offering a comprehensive portfolio of health plans across all life stages. The core offerings include Medi-Cal managed care plans serving vulnerable populations, Medicare Advantage plans under the Wellcare By Health Net sub-brand, and Individual & Family Plans under the Ambetter from Health Net brand. For employers, Health Net provides Small Business and Large Employer group plans. The product portfolio is unified through shared infrastructure including Behavioral Health Services, Telehealth, Health Support Programs (Population Health Management), and Pharmacy Benefits. The company serves over three million members across California through a network of over 118,000 providers, positioning itself as a full-service health insurer addressing the needs of individuals, families, and employers at every stage of life.

Differentiator

Problem solved

Functional benefit

Brands

• Wellcare By Health Net: Medicare Advantage plan brand offered through Health Net
• Ambetter from Health Net

Products and services

• Health Net Medi-Cal Plans California Medi-Cal managed care health plan providing access to doctors, hospitals, and health services through partnerships with state and local agencies for low-income individuals and families.
• Wellcare By Health Net (Medicare Advantage) Medicare Advantage plan offering HMO, HMO SNP, and PPO options with large provider networks, caring case managers, and a nurse hotline providing comprehensive Medicare coverage for seniors.
• Ambetter from Health Net (Individual & Family Plans) Individual and family health insurance plans offered through the Covered California marketplace, providing coverage for individuals and families who may qualify for financial assistance.
• Health Net Small Business Plans Health insurance plans designed for small businesses, empowering employees to own their wellness and health with a range of coverage options.
• Health Net Large Employer Plans Comprehensive health insurance solutions for large employers, offering a wide range of HMO, PPO, and specialty benefit plans to help employees maintain health and productivity.
• MOVES (Mobile Outreach for Vulnerable and Engaged Support) Program Promotora-led mobile health unit program deployed across Los Angeles County to expand access to health screenings, chronic disease management education, specialty care referrals, and social support services for Medi-Cal beneficiaries and community members.
• Get Informed, Stay Covered Campaign Multilingual and face-to-face member education campaign informing Medi-Cal enrollees about new federal and state community engagement requirements effective January 1, 2027 that require eligible adults to complete 80 hours per month of approved activities.

Quantifiable outcome

• C-section rates among Black mothers in Los Angeles dropped from 70% to 10% within six months
• +2 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

18 partnerships are on record, tiered significant, major, emerging, core and minor.

• Visión y CompromisosignificantStrategic or Co-development Partner · 25 June 2026Health Net and Centene Foundation supported the MOVES (Mobile Outreach for Vulnerable and Engaged Support) program, deploying promotora-led mobile health units across Los Angeles County to expand access to health screenings, chronic disease management education, specialty care referrals, and social support services. The three-year initiative was funded by a $1.8 million grant.
• Self-Help EnterprisesmajorStrategic or Co-development Partner · 18 June 2026Health Net provided a $4 million grant to Self-Help Enterprises to support the development of Morris Village, a 45-unit affordable housing community in Modesto, California. The investment helped close the project's remaining funding gap with construction expected to begin Q4 2026 and complete in spring 2028.
• Encompass HousingmajorStrategic or Co-development Partner · 10 June 2026Health Net announced a $10 million investment in the Community Care Campus Long Beach expansion in partnership with Encompass Housing and National Health Care and Housing Advisors, with $5 million from Health Net for tenant improvements and CalAIM-aligned care programs.
• National Health Care and Housing AdvisorsmajorStrategic or Co-development Partner · 10 June 2026Partnership for Community Care Campus Long Beach integrated care campus designed to improve health outcomes and accelerate pathways to stable housing for individuals experiencing homelessness.
• Zócalo HealthemergingGTM or Marketing Partner · 23 April 2026Zócalo Health expanded health plan partnerships to include Health Net among more than a dozen health plan partners for its community-based primary care model combining virtual clinical services with promotoras de salud.
• LA4LA (Los Angeles for Los Angeles)majorStrategic or Co-development Partner · 22 April 2026Health Net invested $10 million in LA4LA's Guarantee Fund to accelerate construction of affordable and mixed-income housing across Los Angeles County. The Guarantee Fund provides subsidies that help developers secure financing quickly, reducing startup times for affordable rental projects.
• SACOG (Sacramento Area Council of Governments)significantStrategic or Co-development Partner · 15 April 2026Health Net provided $2 million to SACOG's Green Means Go program to support infrastructure for at least 50 affordable housing units in the Sacramento region, advancing factory-built housing models for older adults.
• Mutual Housing CaliforniasignificantStrategic or Co-development Partner · 15 April 2026Health Net provided $1 million to Mutual Housing California for phase two of San Juan Apartments providing permanent affordable housing for over 100 seniors along the Stockton Boulevard corridor.
• St. Vincent Medical Center (Site)majorStrategic or Co-development Partner · 2 April 2026Health Net and Centene Foundation invested $6 million in the St. Vincent Behavioral Health Campus on the former St. Vincent Medical Center site in MacArthur Park, providing behavioral health crisis care, transitional services, and 377 housing units (172 permanent supportive housing plus 205 bridge housing beds).
• California Department of Health Care ServicescoreStrategic or Co-development Partner · 1 April 2026Health Net launched a $1 million 'Get Informed, Stay Covered' campaign to educate Medi-Cal enrollees about upcoming federal and state eligibility changes concerning work and community engagement requirements effective January 2027.
• NewGen Administrative Services LLCsignificantStrategic or Co-development Partner · 18 March 2026Health Net invested $4.4 million to improve a Lancaster facility serving as a hub for vocational training, residential services, and community-based programming in Los Angeles County, funding upgrades to vocational classrooms and program areas.
• EleossignificantStrategic or Co-development Partner · 4 March 2026Health Net provided $550,000 grant for a 37-unit affordable housing development at 5637 S. Broadway in South Los Angeles, with construction underway and completion expected summer/fall 2027.
• L.A. Care Health PlanmajorStrategic or Co-development Partner · 24 February 2026$34 million partnership in 2023 to address homelessness in Los Angeles County, securing leases for up to 1,900 housing units.
• Project Angel FoodsignificantStrategic or Co-development Partner · 24 February 2026Partnership delivering over 1 million medically tailored meals annually to support nutrition for vulnerable populations.
• California Association of Food BankssignificantStrategic or Co-development Partner · 20 November 2025$1.1 million investment to expand food distribution and improve emergency food response across 12 California counties, particularly targeting rural communities facing food insecurity.
• LA Family HousingmajorStrategic or Co-development Partner · 13 November 2025Health Net renewed $1 million grant to LA Family Housing for its Housing Location program, which helped unhoused individuals in Los Angeles County find permanent housing, exceeding targets with 458 housing units secured and 190 landlords engaged.
• Various Senior Care OrganizationsminorStrategic or Co-development Partner · 30 July 2025$295,000 in grants to improve services for older adults including dialysis, behavioral health, and community support programs across Los Angeles, San Joaquin, and Stanislaus counties.
• Hope CooperativesignificantStrategic or Co-development Partner · 3 June 2025$2.6 million grant to Hope Cooperative in Sacramento County to support justice-involved individuals' reentry, including housing, healthcare, and employment services through a motel converted to interim housing.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Kaiser Permanente: California's largest integrated payer-provider system and HMO, competing directly with Health Net across Medi-Cal, Medicare Advantage, and commercial segments. Kaiser's vertical integration model represents both Health Net's biggest competitive threat and a benchmark for care delivery innovation.
• UnitedHealthcare (UnitedHealth Group): The largest U.S. health insurer offering commercial, Medicare Advantage, and Medi-Cal plans across California. UnitedHealthcare competes with Health Net across all major product lines and represents the upper bound of competitive scale and capability.
• Centene Corporation (parent): Health Net's publicly traded parent and largest peer by overall scale. Centene operates Wellcare, Ambetter, and other state health plan subsidiaries that share products, infrastructure, and Medicare/Medicaid expertise with Health Net, though at a national level.

Emerging players

• Oscar Health: A technology-driven ACA marketplace insurer that competes with Health Net's Ambetter from Health Net brand in Covered California. Both target individual and family plan enrollees through the state marketplace with growing emphasis on digital engagement.
• Alignment Health Plan: A California-focused Medicare Advantage insurer with technology-enabled care delivery. Competes with Wellcare by Health Net for MA enrollment, particularly among seniors in Southern California, with overlapping geographic focus.

Regional players

• Inland Empire Health Plan (IEHP): A large California-based not-for-profit Medi-Cal and Medicare plan serving the Inland Empire region. Directly competes with Health Net for Medi-Cal contracts in Riverside and San Bernardino counties and is a relevant California-specific peer.

Direct peers

• L.A. Care Health Plan: The largest public health plan in California and a direct Medi-Cal competitor in Los Angeles County. Health Net has partnered with L.A. Care on the $34M homelessness initiative, demonstrating overlap in serving the same vulnerable Medi-Cal population in overlapping geographies.
• Blue Shield of California: California-based nonprofit health plan offering commercial, Medi-Cal, and Medicare plans that directly competes with Health Net for employer group and individual members across the state. Operates as a Mission-driven nonprofit with similar geographic focus.
• Molina Healthcare: A national managed care company specializing in Medicaid, Medicare, and marketplace plans - directly overlapping with Health Net's core government-sponsored segments. Both are pure-play government health insurers competing in similar state Medicaid markets.
• Anthem Blue Cross (Blue Cross of California): The largest competitor to Health Net in California, offering commercial, Medi-Cal, and Medicare Advantage plans. Anthem Blue Cross is referenced as a health plan partner to Zócalo Health alongside Health Net, indicating direct overlap in California provider contracting and member acquisition.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/healthnet
• YouTubeyoutube.com/user/HealthNet
• Facebookfacebook.com/HealthNetInc
• LinkedInlinkedin.com/company/health-net
• Instagraminstagram.com/healthnet

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Health Net