CLEAR ONE HEALTH PLANS ANNOUNCES STAFF REDUCTION PLAN - 10/16/2009
Bend, Ore. October 15, 2009 – Clear One Health Plans, lnc. (OTCBB: CCHN) announces the implementation of a staff reduction plan to address weaker market conditions resulting in decreases in membership, health care reforms that call for greater efficiency in administration, and to further strengthen the Company’s long-term competitiveness in the marketplace.
"Due to the effects of the current depressed economy and resulting decreases in membership, the Company must realign our workforce and further streamline our operations," stated Patricia Gibford, President and Chief Executive Officer of Clear One Health Plans. “This staff reduction plan, while difficult, is the most effective means to improving operational efficiency and will assist the Company in maintaining its financial strength. Clear One remains dedicated to its commitment to provide members peace of mind and confidence in their health care coverage."
The plan includes the reduction of approximately 25 positions throughout the organization, including management and executive staff. The majority of the impacted positions are non-customer service roles. The Company expects staff reductions to be completed by December 31, 2009.
About Clear One Health Plans, Inc.
Clear One Health Plans offers affordable health plans to meet the needs of employers, providers, and consumers. The company provides health insurance, including Medicare Advantage plans, commercial plans, individual plans, and administrative services to individuals and businesses throughout the West. The Company also offers life, disability, dental, vision and voluntary benefits programs, as well as employee benefit services to self-funded employers, associations, Taft-Hartley Trusts, and Chamber of Commerce plans. Clear One is dedicated to the development of community-based employee benefits programs, health insurance, and ancillary plans. For information call 888-863-3637, visit www.clearonehp.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release are forward-looking in nature and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “plan,” “appears,” “will,” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.
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