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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Iue49LqDHO5HtyzJ5GFXBxdVjMTX341SWuAUi+SnOHXAAo1VNWx8/NhFboMel9jD
 77pCBRvJ01Ht4JhZNqUYAg==

<SEC-DOCUMENT>0001179110-05-016848.txt : 20050822
<SEC-HEADER>0001179110-05-016848.hdr.sgml : 20050822
<ACCEPTANCE-DATETIME>20050822182507
ACCESSION NUMBER:		0001179110-05-016848
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050822
FILED AS OF DATE:		20050822
DATE AS OF CHANGE:		20050822

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HEALTH NET INC
		CENTRAL INDEX KEY:			0000916085
		STANDARD INDUSTRIAL CLASSIFICATION:	HOSPITAL & MEDICAL SERVICE PLANS [6324]
		IRS NUMBER:				954288333
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		21650 OXNARD ST
		CITY:			WOODLAND HILLS
		STATE:			CA
		ZIP:			91367
		BUSINESS PHONE:		8186766000

	MAIL ADDRESS:	
		STREET 1:		225 N MAIN ST
		CITY:			PUEBLO
		STATE:			CO
		ZIP:			81003

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FOUNDATION HEALTH SYSTEMS INC
		DATE OF NAME CHANGE:	19970513

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEALTH SYSTEMS INTERNATIONAL INC
		DATE OF NAME CHANGE:	19940207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HN MANAGEMENT HOLDINGS INC/DE/
		DATE OF NAME CHANGE:	19931213

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MAYHEW KARIN D
		CENTRAL INDEX KEY:			0001213932

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12718
		FILM NUMBER:		051042144

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		8186766000

	MAIL ADDRESS:	
		STREET 1:		21650 OXNARD STREET, 22ND FLOOR
		CITY:			WOODLAND HILLS
		STATE:			CA
		ZIP:			91367
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-08-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000916085</issuerCik>
        <issuerName>HEALTH NET INC</issuerName>
        <issuerTradingSymbol>HNT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001213932</rptOwnerCik>
            <rptOwnerName>MAYHEW KARIN D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>21650 OXNARD STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WOODLAND HILLS</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91367</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVPOrganization Effectiveness</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-08-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1788</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>42.31</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16196</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Shares forfeited in lieu of payment of tax liability in connection with the vesting of a 5,000 share restricted stock grant made to the Reporting Person on August 12, 2002.</footnote>
        <footnote id="F2">The price used to calculate the number of shares forfeited to the Issuer by the Reporting Person was based on the closing price of the Issuer's common stock on August 12, 2005 (the vesting date of the August 12, 2002 restricted stock grant).  The Reporting Person notified the Issuer on August 22, 2005 of her intent to forfeit shares to satisfy payment of the tax liability on the vested shares.</footnote>
        <footnote id="F3">Includes 1,984 shares of common stock owned by the Reporting Person's son and indirectly held by the Reporting Person.  The Reporting Person disclaims beneficial ownership of all such shares held by her son and this report should not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Karin D. Mayhew</signatureName>
        <signatureDate>2005-08-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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