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): May 4, 2004

HEALTH NET, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	1-12718	95-4288333
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

21650 Oxnard Street

Woodland Hills, California 91367

(Address of Principal Executive Offices) (Zip Code)

(818) 676-6000

(Registrant’s telephone number, including area code)

Item 12. Results of Operation and Financial Condition

On May 4, 2004, Health Net, Inc. (the “Company”) issued a press release announcing its earnings for the quarter ended March 31, 2004 and held a conference call to discuss its earnings for the quarter ended March 31, 2004. The press release and a transcript of the conference call are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively.

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.

Date: May 6, 2004

HEALTH NET, INC.
By:	/s/ B. Curtis Westen
	B. Curtis Westen
	Senior Vice President, General
	Counsel and Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release of Health Net, Inc. dated May 4, 2004
99.2	Transcript of a conference call held on May 4, 2004 to discuss Health Net, Inc.’s earnings for the quarter ended May 31, 2004.