Health Net posts lower profit, cuts outlook

NEW YORK Aug 5 (Reuters) - Insurer Health Net Inc (HNT.N) posted lower quarterly profit on Tuesday, as it took charges and membership fell in its commercial plans serving employers, and the company cut its full-year forecast.

Net income fell to $76.7 million, or 71 cents per share, compared with $92 million, or 80 cents per share, a year earlier.

The company said it expects 2008 earnings of between $2.85 per share and $2.95 per share, excluding charges. It previously had forecast $3.45 to $3.55 on that basis. (Reporting by Lewis Krauskopf, editing by Gerald E. McCormick)