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24-546: HNT may refer to: Health Net , an American health insurer Homeless Not Toothless , an American dental organization Hoover Nature Trail , in Iowa, United States Hosted NAT traversal Huntly railway station , in Scotland Huntsworth , a British public relations company Neurotrimin , a protein A component of FreedomFi , a cellular network Topics referred to by

48-548: A bank to rescind mortgage loans if it acted similarly inappropriately. Rescission is typically viewed as "an extreme remedy" which is "rarely granted". In order to have legal certainty and in order to avoid the situation that courts have to decide ex-post if a trade should be binding or not, erroneous trade rules of exchanges usually exclude civil-law rescission rights. This explains why banks usually have to carry huge losses when clearly erroneous trades occurred that have not been detected within 30 minutes. Insurers have

72-728: A company called Debix to affected customers. In November 2010, the Centers for Medicare and Medicaid Services (CMS) suspended Health Net for marketing and enrolling new members for compliance issues. The sanctions were lifted in August 2011. In January 2012, the company agreed to sell its Medicare Prescription Drug Plan (PDP) business to CVS Caremark Corp. (CVS) for approximately $ 160 million in cash. Health Net continued to providing prescription drug plans as part of its Medicare Advantage plans. On July 2, 2015, Centene Corporation announced it would acquire Health Net for $ 6.8 billion. The acquisition

96-523: A contract if one party has affirmed the contract by his action, or a third party has acquired some rights or there has been substantial performance in implementing the contract. To improve chances of being granted rescission, parties may do well to describe those circumstances which may give rise to an entitlement to terminate, as was done in Koompahtoo Local Aboriginal Land Council v Sanpine Pty Ltd . Furthermore, because rescission

120-543: A contractual remedy rather than a type of procedural remedy against a court judgment. In Australia, the Court of Equity may grant partial relief under the contract if good conscience and practical justice are observed by the court. In finance, law, and insurance, rescission is the termination of a contract from the beginning (as if it never existed), rendering it void ab initio . In 2009, one judge ruled that borrowers who refinanced into an adjustable-rate mortgage could force

144-418: A court judgment. In this sense, the term means to be set aside or make void , on application to the court that granted the judgment or to a higher court. Applications to rescind a judgment are usually made on the basis of error or for good cause. Most common law jurisdictions avoid all this confusion by holding that one rescinds a contract and cancels a deed (i.e., of real property), and treat rescission as

168-491: A publicly traded company. In 2021, Health Net's former subsidiary, Health Net Federal Services, agreed to pay $ 97M to settle allegations that it had duplicated or inflated claims submitted to the Department of Veterans Affairs between 2013 and 2019. Rescission (contract law) In contract law , rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are

192-524: Is different from Wikidata All article disambiguation pages All disambiguation pages Health Net In 2016, Centene acquired Health Net for $ 6.8 billion. Health Net was established as the nonprofit Health Net of California in 1977 by Blue Cross . In 1992, a California order permitted the company to convert from a nonprofit to a for-profit company. Under the terms of the California Department of Corporations ' conversion order,

216-439: Is productive of serious confusion. Although Judicature legislation has been enacted throughout the common law world, and jurisdictions vary in their recognition of a distinct body of law known as equity , reference to the jurisdictional origins is still important for the purposes of exposition. Rescission is an equitable remedy and is discretionary. It is used as a synonym for termination at law. A court may decline to rescind

240-467: Is supposed to be imposed mutually upon both sides to a contract, the party seeking rescission normally must offer to give back all benefits he or she has received under the contract (an "offer of tender"). The US state of Virginia uses the term "cancellation" for equitable rescission. Furthermore, a minority of common law jurisdictions, like South Africa, use the term "rescission" for what other jurisdictions call "reversing", "overturning" or "overruling"

264-648: The California Wellness Foundation, the successor charity to its nonprofit status, received $ 300 million plus 80 percent of the equity of Health Net's parent holding company. In August 1993, Health Net merged with Qualmed to form Health Systems International. In April 1997, Health Systems International merged with Foundation Health Corporation to form Foundation Health Systems. Also in 1997, Foundation Health Systems acquired PACC Health Plans and Physicians Health Services. In November 2000, Foundation Health Systems changed its name to Health Net, Inc. when

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288-630: The Los Angeles County Medical Association and two patients sued Health Net for denying medically necessary treatment, including cancer care. The lawsuit alleged that Health Net denied claims based on its own definition of "medical necessity" rather than standards set forth by California law. A judge ruled in Health Net's favor in July 2013. In 2016, Health Net Federal Services became a wholly-owned subsidiary of Centene, ending its time as

312-536: The adoption of the Patient Protection and Affordable Care Act in 2010. A House committee report found that WellPoint (now Anthem ), UnitedHealth Group and Assurant rescinded policies for more than 20,000 people over a five-year period; the House report also highlighted 13 particular cases. In 2010, it was revealed that WellPoint specifically targeted women with breast cancer for aggressive investigation with

336-500: The company started trading on the New York Stock Exchange under the symbol HNT. In July 2009, UnitedHealth Group bought Health Net's northeastern licensed subsidiaries for $ 510 million, and its Medicare and Medicaid businesses for $ 60 million. In November 2009, Connecticut 's attorney general office investigated a lost, unencrypted hard drive with customer data. Health Net offered two years of free credit protection from

360-436: The contestable period. The service is maintained for two years after initial underwriting and may include, among other information credit history, medical conditions, driving records, criminal activity, drug use, participation in hazardous sports, and personal or family genetic history. Consumers can request a copy of the data in their report from MIB Group. The insurer is additionally required to prove an "intent to deceive" in

384-425: The diagnosis of an expensive-to-treat illness in the patient (policyholder), typically because of withheld information about a pre-existing medical condition. Public awareness of this practice increased during the 2009 US healthcare debate , when it was described colloquially as "cancel coverage when you get sick". The practice of health insurance rescission was partially limited starting September 23, 2010, following

408-409: The intent to cancel (rescind) their policies. The disclosures followed the discovery that Assurant Health similarly targeted all recently diagnosed HIV -positive ( AIDS ) policyholders for rescission. U.S. Department of Health and Human Services (HHS) Secretary Kathleen Sebelius sent a letter to WellPoint urging the insurer to immediately end their practice of dropping health insurance coverage for

432-405: The right to rescind an insurance policy due to concealment, material misrepresentation , or material breach of warranty . Generally, to rescind, an insurer will send a notice to the insured and tender a check in the amount of the premium paid for the relevant policy period In health insurance and specifically the individual and small group insurance markets, rescissions have generally followed

456-403: The same term [REDACTED] This disambiguation page lists articles associated with the title HNT . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=HNT&oldid=1085706300 " Category : Disambiguation pages Hidden categories: Short description

480-432: The victims of a vitiating factor, such as misrepresentation , mistake , duress , or undue influence . Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the status quo ante ). Rescission is used throughout the law in a number of different senses. The failure to draw these crucial distinctions

504-473: The women. The software technology used by Wellpoint as well as other major American health insurance companies is provided by MIB Group . The software automatically triggered a fraud investigation on every policyholder recently diagnosed with breast cancer and searched for conditions not disclosed in the application. The MIB Group provides a "Follow-up Service" which allows for a "second chance" to underwrite based on additional, discovered information during

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528-457: Was appointed CEO of Health Net in California, leading operations in that state. In 2007, a California patient sued Health Net claiming that the company wrongfully terminated her care during chemotherapy treatments. During the case, a company employee performance review revealed that a manager had tied bonuses for an analyst in charge of rescission reviews to the rate of enrollees whose coverage

552-678: Was completed in March 2016 and combined headquarters were established in St. Louis, Missouri. The acquisition resulted in Health Net Federal Services (HNFS) becoming a separate subsidiary of Centene. In 2018, Health Net in Arizona was merged into other Centene holdings to form Arizona Complete Health, and Martha Smith was named as its Plan President and CEO. Separately, in September 2019, Brian Ternan

576-550: Was discontinued. Health Net claimed that the patient withheld health information, including a heart problem, that would have disqualified her from coverage. She replied that the insurance broker had filled out the form for her. In February 2008, the court ruled in Bates' favor and ordered Health Net to over $ 9 million in damages. In 2008, Health Net agreed to pay $ 215M to settle allegations that it had unfairly reimbursed out-of-network providers between 1995 and 2007. In September 2012,

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