Health Net posts 1Q profit and raises outlook

Published April 29, 2013 6:26pm ET



LOS ANGELES (AP) — Health insurer Health Net Inc. said Monday it was profitable in the first quarter and raised its forecast for the full year.

Health Net said its commercial business is doing better because fewer people are seeing doctors or undergoing medical procedures, which keeps its spending down. The company’s revenue fell 1 percent compared to a year ago, but health plan service expenses fell by about 3 percent.

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