The investment will help advance shovel-ready housing projects, bringing safe, stable housing within reach for more local families.

SACRAMENTO, Calif., Sept. 9, 2026 /PRNewswire/ -- Health Net, one of California's most experienced Medi-Cal managed care health plans and company of Centene Corporation (NYSE: CNC), today announced a $2 million investment in Stanislaus Equity Partners, Inc. (STEP) to help more residents access safe, stable, affordable housing. The multi-year grant will provide flexible gap financing for 50 affordable housing projects already in the local pipeline, helping move shovel-ready developments closer to completion.

STEP will use the grant to support affordable housing projects across Stanislaus County, prioritizing developments that are ready to move forward but face funding shortfalls. By filling these gaps, the investment aims to unlock additional public and private resources, helping bring more affordable units online faster and strengthen housing stability in the region.

"Stable housing is inseparable from good health," said Dorothy Seleski, Medi-Cal Plan President at Health Net. "When families have a safe and affordable place to call home, they have a stronger foundation for their health, their future and their ability to thrive. By partnering with Stanislaus Equity Partners, we're helping to fill the funding gap, create pathways to safe, affordable housing—so individuals and families can thrive, not just survive."

Recognizing that access to safe, affordable housing is foundational to long-term health and well-being. Stanislaus Equity Partners will deploy the funding through grants, forgivable loans and low-interest loans. These flexible financing tools will accelerate affordable housing development and help reduce displacement risks for Stanislaus County residents.

"Stanislaus County has experienced the real and lasting impacts of California's housing crisis," said Jessica Filbrun, CEO of Stanislaus Equity Partners. "This investment from Health Net is a powerful example of how the health care sector can be a partner in building healthier communities. By supporting affordable housing, we're investing in the well-being of working families, seniors, and vulnerable neighbors throughout our county."

According to the California Housing Partnership, more than 12,700 low-income households in Stanislaus County do not have access to an affordable home, and 81% of extremely low-income households spend more than half of their income on housing costs, placing them at severe risk of housing instability and homelessness.

"Stanislaus County has experienced the real and lasting impacts of California's housing crisis," said Assemblymember Juan Alanis. "This investment from Health Net is a powerful example of how the health care sector can be a partner in building healthier communities. By supporting affordable housing, we're investing in the well-being of working families, seniors, and vulnerable neighbors throughout our county."

This investment builds on Health Net's broader commitment to supporting the conditions people need to live healthier lives, including access to stable housing and essential community resources. Through strategic investments and trusted local partnerships, Health Net continues working to help California communities become stronger, healthier and more resilient.

About Health Net
Founded 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 117,000 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.

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SOURCE Health Net, LLC