2.1.12NJBIZ
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MagnaCare CEO welcomes outgoing DOBI commissioner with open arms By Ken Tarbous Thomas Considine, state Department of Banking and Insurance commissioner who will step down from his post on Feb. 10, will bring vast legal and insurance industry expertise to his new position as chief operating officer of health plan services provider MagnaCare, according to the company's president and CEO. "The experience that he has as an attorney and then as a regulator will be enormously helpful to MagnaCare," said Joseph Berardo Jr., CEO and president of MagnaCare. "Tom is essentially my No. 2 guy. He has significant responsibility in operating big parts of the business." Berardo interacted with Considine as part of the regulatory process at DOBI, and when it became clear that Considine was considering leaving state government for the private sector, MagnaCare expressed its interest in putting his skills to work. MagnaCare focuses on the self-insured markets, often working on issues associated with health care reform, helping providers build infrastructure around accountable-care organizations, multi-employer welfare associations, and captive insurance vehicles, among other aspects of the health care industry. "MagnaCare's business will become a little bit more complex over the next number of years. Tom's expertise will help us basically identify opportunities — and then in many ways help us structure ourselves — that appear as all of this marketplace change occurs," Berardo said. In 2010, Considine, a lawyer, left his private-sector job as vice president and government relations counsel at insurer MetLife Inc. to become the state's top banking and insurance regulator. On Friday, MagnaCare signed a lease for new office space on Gilbert Avenue, in Tinton Falls, where it will add 40 to 50 new jobs and will be Considine's home base once he joins the company on March 1, Berardo said. Considine will have responsibilities throughout the company and work at its New York headquarters and its offices in New Brunswick and on Long Island.
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On Friday, MagnaCare signed a lease for new office space on Gilbert Avenue, in Tinton Falls, where it will add 40 to 50 new jobs and will be Considine's home base once he joins the company on March 1, Berardo said. Considine will have responsibilities throughout the company and work at its New York headquarters and its offices in New Brunswick and on Long Island. By Ken Tarbous
Transcript of 2.1.12NJBIZ
MagnaCare CEO welcomes outgoing DOBI
commissioner with open arms By Ken Tarbous
Thomas Considine, state Department of Banking and Insurance commissioner who will step down from his post on Feb. 10, will bring vast legal and insurance industry expertise to his new position as chief operating officer of health plan services provider MagnaCare, according to the company's president and CEO.
"The experience that he has as an attorney and then as a regulator will be enormously helpful to MagnaCare," said Joseph Berardo Jr., CEO and president of MagnaCare. "Tom is essentially my No. 2 guy. He has significant responsibility in operating big parts of the business." Berardo interacted with Considine as part of the regulatory process at DOBI, and when it became clear that Considine was considering leaving state government for the private sector, MagnaCare expressed its interest in putting his skills to work. MagnaCare focuses on the self-insured markets, often working on issues associated with health care reform, helping providers build infrastructure around accountable-care organizations, multi-employer welfare associations, and captive insurance vehicles, among other aspects of the health care industry. "MagnaCare's business will become a little bit more complex over the next number of years. Tom's expertise will help us basically identify opportunities — and then in many ways help us structure ourselves — that appear as all of this marketplace change occurs," Berardo said. In 2010, Considine, a lawyer, left his private-sector job as vice president and government relations counsel at insurer MetLife Inc. to become the state's top banking and insurance regulator. On Friday, MagnaCare signed a lease for new office space on Gilbert Avenue, in Tinton Falls, where it will add 40 to 50 new jobs and will be Considine's home base once he joins the company on March 1, Berardo said. Considine will have responsibilities throughout the company and work at its New York headquarters and its offices in New Brunswick and on Long Island.
