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MagnaCare Announces Continued Expansion and Job Creation in New Jersey to Meet Increased Demand for Self-insurance of Health Benefits

Media Contact:
Katelyn Petersen
CPR Communications for MagnaCare
kpetersen@cpronline.com
201-641-1911 x18

FOR IMMEDIATE RELEASE

MagnaCare Announces Continued Expansion and Job Creation in New Jersey to Meet Increased Demand for Self-insurance of Health Benefits

New Jersey Lt. Gov. Kim Guadagno led ribbon cutting at new office:
44 W. Gilbert St., Tinton Falls, NJ

NEW YORK, N.Y./TINTON FALLS, N.J. – May 18, 2012 – As part of the Company’s increased presence in New Jersey, MagnaCare, a healthcare services company, marked the opening of its new office in New Jersey on May 18, 2012, located at 44 W. Gilbert St., Tinton Falls, N.J., with a ribbon-cutting ceremony that featured New Jersey Lt. Gov. Kim Guadagno.  The expanded offices will accommodate a quadrupled staff increase as part of MagnaCare’s rapid growth and ongoing support of New Jersey’s economy.

“During the last two years, we have ushered in a new attitude and approach toward business development in New Jersey,” said Lt. Governor Kim Guadagno. “By working with companies like MagnaCare, we are rebuilding New Jersey’s economy and laying the foundation for expanding job opportunities for our residents. More companies like MagnaCare are appreciating the tremendous advantages of doing business here, further fueling New Jersey’s comeback.”

Lt. Gov. Guadagno lauded the MagnaCare commitment to New Jersey, citing the Company’s commitment to advancing the state’s economy with positive business changes.

Joseph Berardo Jr., CEO and president of MagnaCare said, “MagnaCare is not only creating jobs and opportunities, but we are also helping a rapidly growing number of self-insured businesses of all sizes to cut healthcare costs without sacrificing quality of care. We thank Lt. Gov. Guadagno for helping us to initiate this new era of expansion.”

As further testimony to MagnaCare, Senator Joseph Kyrillos (R-13) said, “The people of New Jersey are the beneficiary of MagnaCare’s commitment to staying ahead of the curve.  Joe Berardo and his team are to be commended for vision and leadership, and this expansion will further fuel economic growth for our state.”

Recently, MagnaCare appointed Tom Considine, former New Jersey commissioner of banking and insurance, as Chief Operating Officer.  Considine adds, “MagnaCare exemplifies the power of the private sector to create new jobs and bring affordable healthcare options to employers throughout the state.  Our corporate footprint is expanding as we extend the reach of our products and services.”

About MagnaCare

MagnaCare, a healthcare services company, is proactively reducing the cost of healthcare by offering self-insured options to employers with as few as 15 employees in New Jersey and 50 in New York. For more than 20 years MagnaCare has provided services to self-insured employers and health, workers’ compensation and no fault payers, including commercial insurers, TPA’s, government entities, and labor markets. MagnaCare offers access to a broad provider network, predictive modeling analyses, member outreach programs and integrated solutions that include full plan management services. MagnaCare was selected to the esteemed “Modern Healthcare’s 2010 and 2011 Best Places to Work in Healthcare.” Visit www.magnacare.com, www.facebook.com/magnacare, www.linkedin.com/company/magnacare, http://blog.magnacare.com.

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