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<TITLE> Health Net, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	December 17, 2014
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	Health Net, Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Delaware
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	1-12718
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	95-4288333
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
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	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	21650 Oxnard Street, Woodland Hills, California
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	91367
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_________________________________<BR>
	(Address of principal executive offices)
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___________<BR>
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	Registrant&#146;s telephone number, including area code:
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	(818) 676-6000
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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	Item 7.01 Regulation FD Disclosure.
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On December 17, 2014, Health Net, Inc. (the "Company") issued a press release announcing the Company&#x2019;s earnings guidance for the full year 2015.  The press release is attached hereto as Exhibit 99.1 and hereby incorporated into this Item 7.01 by reference.<br><br>The information in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
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	Item 8.01 Other Events.
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On December 17, 2014, the Company also announced that, on December 16, 2014, its Board of Directors (the "Board") approved a $258 million increase to the Company&#x2019;s existing share repurchase program. Including the additional $258 million in newly authorized repurchase authority, the Company currently has $400 million in remaining repurchase authority.  <br><br>Subject to Board approval, the Company may repurchase its common stock under its share repurchase program from time to time in privately negotiated transactions, through accelerated share repurchase programs or open market transactions, including pursuant to a trading plan in accordance with Rules 10b5-1 and 10b-18 of the Exchange Act, or by any combination of such methods. The timing of any repurchases and the actual number of shares repurchased will depend on a variety of factors, including the Company&#x2019;s stock price, corporate and regulatory requirements, restrictions under the Company&#x2019;s debt obligations, and other market and economic conditions. The share repurchase program may be suspended or discontinued at any time. The Company intends to report on its repurchase activity in its quarterly financial disclosures.
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	Item 9.01 Financial Statements and Exhibits.
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(d)	Exhibits<br><br>99.1	Press Release dated December 17, 2014
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<BR><BR><BR><BR><P ALIGN="LEFT" STYLE="FONT-SIZE: 10PT">CAUTIONARY STATEMENTS: The Company and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act (&#x201C;PSLRA&#x201D;) of 1995, including statements in this and other reports, in presentations, press releases, filings with the Securities and Exchange Commission (&#x201C;SEC&#x201D;), and in meetings with investors and analysts. All statements in this report, other than statements of historical information provided herein, including the guidance for future periods and the assumptions underlying such projections, may be deemed to be forward-looking statements and as such are intended to be covered by the safe harbor for &#x201C;forward-looking statements&#x201D; provided by PSLRA. These statements are based on management&#x2019;s analysis, judgment, belief and expectation only as of the date hereof, and are subject to changes in circumstances and a number of risks and uncertainties. Without limiting the foregoing, the guidance as to expected future period results and statements including the words &#x201C;believes,&#x201D; &#x201C;anticipates,&#x201D; &#x201C;plans,&#x201D; &#x201C;expects,&#x201D; &#x201C;may,&#x201D; &#x201C;should,&#x201D; &#x201C;could,&#x201D; &#x201C;estimate,&#x201D; &#x201C;intend,&#x201D; &#x201C;feels,&#x201D; &#x201C;will,&#x201D; &#x201C;projects&#x201D; and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied or projected by the forward-looking information and statements due to, among other things, health care reform and other increased government participation in and taxation or regulation of health benefits and managed care operations, including but not limited to the implementation of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the &#x201C;ACA&#x201D;) and related fees, assessments and taxes; the Company&#x2019;s ability to successfully participate in California&#x2019;s Coordinated Care Initiative, which is subject to a number of risks inherent in untested health care initiatives and requires the Company to adequately predict the costs of providing benefits to individuals that are generally among the most chronically ill within each of Medicare and Medi-Cal and implement delivery systems for benefits with which the Company has limited operating experience; the Company&#x2019;s ability to successfully participate in the federal and state health insurance exchanges under the ACA, which in the past have experienced technical challenges in implementation and which involve uncertainties related to the mix and volume of business that could negatively impact the adequacy of the Company&#x2019;s premium rates and may not be sufficiently offset by the risk apportionment provisions of the ACA; increasing health care costs, including but not limited to costs associated with the introduction of new treatments or therapies; the Company&#x2019;s ability to reduce administrative expenses while maintaining targeted levels of service and operating performance, including through the Company&#x2019;s master services agreement with Cognizant; whether the Company receives required regulatory approvals for Cognizant&#x2019;s provision of services to the Company and any conditions imposed in order to obtain such regulatory approvals; the Company&#x2019;s ability to recognize the intended cost savings and other intended benefits of the Cognizant transaction; and the risk that Cognizant may not perform contracted functions and services in a timely, satisfactory and compliant manner; negative prior period claims reserve developments; rate cuts and other risks and uncertainties affecting the Company&#x2019;s Medicare or Medicaid businesses; trends in medical care ratios; membership declines or negative changes in the Company&#x2019;s health care product mix; unexpected utilization patterns or unexpectedly severe or widespread illnesses; the timing of collections on amounts receivable from state and federal governments and agencies, including collections of amounts owed under the T-3 contract; litigation costs; regulatory issues with federal and state agencies including, but not limited to, the California Department of Managed Health Care and Department of Health Care Services, the Centers for Medicare & Medicaid Services, the Office of Civil Rights of the U.S. Department of Health and Human Services and state departments of insurance; operational issues; changes in economic or market conditions; failure to effectively oversee the Company&#x2019;s third-party vendors; noncompliance by the Company or the Company&#x2019;s business associates with any privacy laws or any security breach involving the misappropriation, loss or other unauthorized use or disclosure of confidential information; impairment of the Company&#x2019;s goodwill or other intangible assets; investment portfolio impairment charges; volatility in the financial markets; and general business and market conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the &#x201C;Risk Factors&#x201D; section included within the Company&#x2019;s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC and the other risks discussed in the Company&#x2019;s filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as may be required by law, the Company undertakes no obligation to address or publicly update any of its guidance, the assessment of the underlying assumptions or forward-looking statements to reflect events or circumstances that arise after the date of this report.	</P><!-- PageBreak START -->
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
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	Health Net, Inc.
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	December 17, 2014
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<I>
	James E. Woys
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	Name: James E. Woys
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	Title: Executive Vice President, Chief Financial and Operating Officer and Interim Treasurer
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	Exhibit&nbsp;Index
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	99.1
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Press Release dated December 17, 2014
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Health Net, Inc. (Form: 8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December 17, 2014
Health Net, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware
1-12718
95-4288333
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
21650 Oxnard Street, Woodland Hills, California
91367
_________________________________
(Address of principal executive offices)
___________
(Zip Code)
Registrant's telephone number, including area code:
(818) 676-6000
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Top of the Form
Item 7.01 Regulation FD Disclosure.
On December 17, 2014, Health Net, Inc. (the "Company") issued a press release announcing the Company's earnings guidance for the full year 2015.  The press release is attached hereto as Exhibit 99.1 and hereby incorporated into this Item 7.01 by reference.
The information in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 8.01 Other Events.
On December 17, 2014, the Company also announced that, on December 16, 2014, its Board of Directors (the "Board") approved a $258 million increase to the Company's existing share repurchase program. Including the additional $258 million in newly authorized repurchase authority, the Company currently has $400 million in remaining repurchase authority.
Subject to Board approval, the Company may repurchase its common stock under its share repurchase program from time to time in privately negotiated transactions, through accelerated share repurchase programs or open market transactions, including pursuant to a trading plan in accordance with Rules 10b5-1 and 10b-18 of the Exchange Act, or by any combination of such methods. The timing of any repurchases and the actual number of shares repurchased will depend on a variety of factors, including the Company's stock price, corporate and regulatory requirements, restrictions under the Company's debt obligations, and other market and economic conditions. The share repurchase program may be suspended or discontinued at any time. The Company intends to report on its repurchase activity in its quarterly financial disclosures.
Item 9.01 Financial Statements and Exhibits.
(d)	Exhibits
99.1	Press Release dated December 17, 2014
CAUTIONARY STATEMENTS: The Company and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act ("PSLRA") of 1995, including statements in this and other reports, in presentations, press releases, filings with the Securities and Exchange Commission ("SEC"), and in meetings with investors and analysts. All statements in this report, other than statements of historical information provided herein, including the guidance for future periods and the assumptions underlying such projections, may be deemed to be forward-looking statements and as such are intended to be covered by the safe harbor for "forward-looking statements" provided by PSLRA. These statements are based on management's analysis, judgment, belief and expectation only as of the date hereof, and are subject to changes in circumstances and a number of risks and uncertainties. Without limiting the foregoing, the guidance as to expected future period results and statements including the words "believes," "anticipates," "plans," "expects," "may," "should," "could," "estimate," "intend," "feels," "will," "projects" and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied or projected by the forward-looking information and statements due to, among other things, health care reform and other increased government participation in and taxation or regulation of health benefits and managed care operations, including but not limited to the implementation of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the "ACA") and related fees, assessments and taxes; the Company's ability to successfully participate in California's Coordinated Care Initiative, which is subject to a number of risks inherent in untested health care initiatives and requires the Company to adequately predict the costs of providing benefits to individuals that are generally among the most chronically ill within each of Medicare and Medi-Cal and implement delivery systems for benefits with which the Company has limited operating experience; the Company's ability to successfully participate in the federal and state health insurance exchanges under the ACA, which in the past have experienced technical challenges in implementation and which involve uncertainties related to the mix and volume of business that could negatively impact the adequacy of the Company's premium rates and may not be sufficiently offset by the risk apportionment provisions of the ACA; increasing health care costs, including but not limited to costs associated with the introduction of new treatments or therapies; the Company's ability to reduce administrative expenses while maintaining targeted levels of service and operating performance, including through the Company's master services agreement with Cognizant; whether the Company receives required regulatory approvals for Cognizant's provision of services to the Company and any conditions imposed in order to obtain such regulatory approvals; the Company's ability to recognize the intended cost savings and other intended benefits of the Cognizant transaction; and the risk that Cognizant may not perform contracted functions and services in a timely, satisfactory and compliant manner; negative prior period claims reserve developments; rate cuts and other risks and uncertainties affecting the Company's Medicare or Medicaid businesses; trends in medical care ratios; membership declines or negative changes in the Company's health care product mix; unexpected utilization patterns or unexpectedly severe or widespread illnesses; the timing of collections on amounts receivable from state and federal governments and agencies, including collections of amounts owed under the T-3 contract; litigation costs; regulatory issues with federal and state agencies including, but not limited to, the California Department of Managed Health Care and Department of Health Care Services, the Centers for Medicare & Medicaid Services, the Office of Civil Rights of the U.S. Department of Health and Human Services and state departments of insurance; operational issues; changes in economic or market conditions; failure to effectively oversee the Company's third-party vendors; noncompliance by the Company or the Company's business associates with any privacy laws or any security breach involving the misappropriation, loss or other unauthorized use or disclosure of confidential information; impairment of the Company's goodwill or other intangible assets; investment portfolio impairment charges; volatility in the financial markets; and general business and market conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the "Risk Factors" section included within the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC and the other risks discussed in the Company's filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as may be required by law, the Company undertakes no obligation to address or publicly update any of its guidance, the assessment of the underlying assumptions or forward-looking statements to reflect events or circumstances that arise after the date of this report.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
Health Net, Inc.
December 17, 2014
By:
James E. Woys
Name: James E. Woys
Title: Executive Vice President, Chief Financial and Operating Officer and Interim Treasurer
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Exhibit Index
Exhibit No.
Description
99.1
Press Release dated December 17, 2014