Magnacare is a firm that provides administrative support, third party administration, insurance agent or broker, insurance, and investment management to nonprofit clients. They primarily provide their services regionally, with most clients in New York (although they are present in other states as well).
Most Magnacare clients are health and welfare funds with revenues ranging from $20 million to $140 million.
Previous legal names, trade names, or just variations of their name include: Magnacare Administrative Services; Magnacare Administrative Services LLC; and Magnacare LLC.
| Name | Type | Location | |||
|---|---|---|---|---|---|
| 1 | Ufcw National Health and Welfare Fund | 501(c)(9) | Englewood, NJ | ||
| 2 | Painting Industry Insurance Fund | 501(c)(9) | New York, NY | ||
| 3 | Local 812 Health Fund | 501(c)(9) | Great Neck, NY | ||
| 4 | International Union of Operating Engineers Local 138 Welfare Fund | 501(c)(9) | Farmingdale, NY | ||
| 5 | Local 338 RWDSU / UFCW | 501(c)(9) | Mineola, NY | ||
| 6 | United Wire Metal and Machine Health and Welfare | 501(c)(9) | Long Island City, NY | ||
| 7 | Laborers Union Local 1298 of Nassau and Suffolk Counties Welfare Fund | 501(c)(9) | Hempstead, NY | ||
| 8 | Local 272 Welfare Fund | 501(c)(9) | New York, NY | ||
| 9 | Local 1102 Health and Benefit Fund | 501(c)(9) | Woodbury, NY | ||
| 10 | Lake County Indiana Neca-Ibew Health and Benefit Plan | 501(c)(9) | Merrillville, IN | ||
| ... | and 26 more Magnacare not-for-profit tax-exempt clients identified by Cause IQ | ||||
Competitors to Magnacare in the nonprofit sector include Voya Retirement Insurance and Annuity Co., Minnesota Life Insurance Company, Blue Cross Blue Shield Of Ma, Excellus Blue Cross Blue Shield, Lincoln Financial Group, Community Insurance Company, Optumrx Inc, Blue Cross Blue Shield Of Michigan, Blue Cross Blue Shield Of Alabama, and Davis Vision.
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