StockNews.AI
CNC
StockNews.AI
13 hrs

More than 500 Unhoused Angelenos to find Housing and Get Medical, Behavioral Health and other Services thanks to $2 Million Investment by Health Net in LA Family Housing

1. Health Net renews $1 million grant to LA Family Housing for homelessness support. 2. Grant aims to secure affordable housing for Los Angeles individuals experiencing homelessness. 3. LAFH exceeded unit acquisition targets, acquiring 458 versus a goal of 250–300. 4. Health Net commits over $247 million for community-based organizations from 2020-2025. 5. Partnership expands to include new training and engagement with additional landlords.

6m saved
Insight
Article

FAQ

Why Bullish?

Health Net's significant investment and success in housing align with CNC's community focus. Previous similar initiatives have led to positive financial outcomes for Centene.

How important is it?

The funding supports long-term initiatives that enhance CNC's service impact and brand reputation, likely driving stock performance.

Why Long Term?

Sustained funding and community partnerships can create enduring brand loyalty and service expansion, impacting long-term growth.

Related Companies

UNHCNCHNT
This funding opens doors for hundreds of Angelenos to move into safe, stable homes. , /PRNewswire/ -- Health Net, one of California's most experienced Medi-Cal managed care health plans and company of Centene Corporation (NYSE: CNC), awarded a renewal of a $1 million grant to LA Family Housing (LAFH). This marks the second consecutive year of this significant partnership, which directly supports LAFH's innovative Housing Location program and accelerates efforts to secure permanent affordable housing for individuals experiencing homelessness in Los Angeles County's Service Planning Area (SPA) 2. The renewed grant deepens Health Net's partnership with LA Family Housing and expands capacity to address homelessness across Los Angeles. The funding builds systems and infrastructure for whole-person care and increases access to stable, affordable housing for people in need. Through this renewed investment, more Angelenos experiencing homelessness will have the opportunity to secure permanent housing and greater stability. "There was a time when I didn't think I'd have my own home again," shared a Health Net member who received services through last year's funding. "LA Family Housing's team never gave up on me and helped me find a place that finally feels safe and permanent. Now, I have my own apartment and a second chance to rebuild my life." Exceeding Expectations: By the Numbers Strong results drove the decision to reinvest. LAFH committed to connecting participants to 250–300 units but instead acquired 458 units — 183% of its target. Landlord engagement also outperformed expectations: LAFH sustained relationships with 130 existing landlords and added 60 new partners, bringing the total to 190 engaged landlords (146% of target). These outcomes validate the Housing Location program and underscore why Health Net renewed its support. "With this renewed grant, we're able to create lasting change for so many who need it most," said Dorothy Seleski, President Medi-Cal for Health Net. "Our partnership with LA Family Housing is built on shared values, equity, and community-driven solutions. Every dollar invested brings us closer to building a future where everyone in Los Angeles has a place to call home." Looking Ahead: Expanding the Impact Looking ahead, LAFH will expand its housing portfolio by strengthening owner and manager relationships. The grant will help maintain partnerships with 190 landlords and engage 35 additional property partners. LAFH will also host 12 housing events across the year and aims to place 250 individuals into permanent homes. Beyond direct placements, the partnership will fund new training to share LAFH's unit-acquisition strategies with other service providers, equipping partners with tools to scale impact across the community. "At LA Family Housing, we know that hope is built one home and one relationship at a time," said Stephanie Klasky-Gamer, President and CEO for LA Family Housing. "Together with Health Net and local partners, we're not just providing housing; we're restoring dignity, creating new beginnings, and empowering people to thrive by working alongside them to secure safe and affordable housing. Our work proves that when we stand together with purpose, we can change lives and transform communities." From 2020 to 2025, Health Net committed more than $247 million in funding to community-based organizations. Most recently, Health Net awarded a grant to Wesley Health Centers to support housing assistance-related initiatives for seniors. To learn more about Health Net's local commitments, visit www.bridgingthedivideca.com. About Health NetFounded in California more than 45 years ago, Health Net, LLC ("Health Net"), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 118,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com. SOURCE Health Net

Related News