The state Thursday slapped a $1-million fine on Health Net Inc., the Woodland Hills-based insurer that acknowledged last week that it set goals for cancellations and paid bonuses in part based on how many policyholders were dropped and how much money was saved, the Los Angeles Times.

State officials said they levied the fine after finding that the company misled investigators about such bonuses on two occasions during interviews at the company’s headquarters this fall.

Thursday’s fine was solely related to the company’s candor. Health Net’s cancellation practices remained under investigation by the state. If any violations of state regulations are found, the company could face additional fines.

In a consent agreement, Health Net agreed to pay the fine — one of the largest in the history of the Department of Managed Health Care — and to no longer engage in compensation practices linked to coverage cancellations.

The fine comes amid a broad investigation the state began early this year into how frequently insurers cancel policyholders’ health coverage after they get sick and run up large medical bills.

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