MagnaCare processes and administers healthcare claims for customers who utilize the company's fully-integrated physician, diagnostic, and hospital preferred provider organizations and workers compensation program. Its plans cover a wide range of organizations, including the self-insured organizations, Taft Hartley Funds, commercial insurers, Third Party Administrators, worker's compensation and no-fault payors, and municipalities.
Latest MagnaCare News
Aug 25, 2022
News provided by Share this article Expanded relationship extends national support for first responders NEW YORK, Aug. 25, 2022 /PRNewswire/ -- MagnaCare and the International Association of Fire Fighters Health & Wellness Trust have expanded their relationship to make high-value healthcare benefits available to first responders and their families nationwide. MagnaCare, a third-party administrator with deep expertise supporting Taft-Hartley trusts, serves as the TPA for all IAFF Health & Wellness Trust health plans, delivering administrative services and technology tools to support the trust's rapidly growing member base. Formerly known as Northwest Fire Fighters Benefits Trust, IAFF Health & Wellness Trust offers a slate of health benefit options specifically designed to meet the needs of firehouse employees and their families. Based in Washington state, the Trust currently serves more than 4,000 members in eight states. The Trust is expected to double in size in the next six months. "We launched the Trust in 2013 to bring firefighters and their families comprehensive, affordable and sustainable health plans. We have experienced tremendous growth since then, and our recent rebranding and alignment with IAFF have further accelerated interest in the tailored health solutions we provide," said Greg Markley, chairman of IAFF Health & Wellness Trust. "MagnaCare's extensive knowledge and respect for labor groups, their willingness to integrate with our existing partners, and their proactive approach to bringing us innovative solutions make them the right partner for this next phase of growth." For more than 30 years, MagnaCare has been a trusted provider of third-party administration services to labor and other self-insured groups. Through its partnership with IAFF Health & Wellness Trust, MagnaCare provides benefit administration for all trust health plans, many of which use the Regence BlueCross BlueShield provider network. MagnaCare also delivers customer service, medical management, case management and telehealth support. The trust also leverages MagnaCare's proprietary Create® Technology platform, which enables all aspects of health plan access, including tools for online open enrollment, benefits administration, and member activation and engagement. IAFF Health & Wellness Trust and MagnaCare first partnered in 2018 for the state of Connecticut and extended the relationship in 2021 to five additional states. "Our expanding relationship with IAFF Health & Wellness Trust is a testament to our mutual success to date and our shared commitment to making healthcare benefits access easier for first responders and their families," said Michelle Zettergren, president of MagnaCare. "We look forward to collaborating to improve member experience while supporting the Trust's rapid growth." About MagnaCare For over three decades, MagnaCare , a national Third Party Administrator has been building healthy communities together with Taft-Hartley trusts, providers, other TPAs, carriers, and workers' compensation and no-fault payors. Its wholly owned networks, full health plan management services, extensive trust and welfare administration services, comprehensive in-house medical management services, and leading outcomes-based casualty solutions offer the ultimate flexibility and customization that help clients simplify administration, control healthcare costs, improve health, and achieve exceptional value. MagnaCare is a division of Brighton Health Plan Solutions, LLC. Learn more at MagnaCare.com . Media Contact:
MagnaCare Frequently Asked Questions (FAQ)
When was MagnaCare founded?
MagnaCare was founded in 1990.
Where is MagnaCare's headquarters?
MagnaCare's headquarters is located at One Penn Plaza, New York.
What is MagnaCare's latest funding round?
MagnaCare's latest funding round is Unattributed.
How much did MagnaCare raise?
MagnaCare raised a total of $46.46M.
Who are the investors of MagnaCare?
Investors of MagnaCare include Brighton Health Group, H.I.G. Capital and Saunders Karp & Megrue.