Consolmagno became non-interim CFO on Feb. 9.
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Worcester-based Fallon Health has promoted interim CFO Anthony Consolmagno to the permanent role amid the insurer’s pending acquisition by Mass General Brigham Health Plan.
Consolmagno became non-interim CFO on Feb. 9, Melissa Randall, Fallon’s director of corporate communications, wrote in an email to WBJ.
“Anthony has been a trusted, steady leader at a pivotal time for Fallon Health, keeping our focus on our mission, our members, and the communities we serve. His experience and collaborative approach strengthen our future,” Randall said in the email.
Consolmagno was first promoted to interim CFO in August, having previously served as Fallon’s vice president of financial planning and analysis since 2022, according to his LinkedIn profile.
He replaces Todd Bailey, who had worked at Fallon for 20 years. During his tenure, Bailey served as Fallon’s interim president and CEO between January and July 2024, before Manny Lopes took on the role.
Consolmagno was among WBJ’s 40 Under Forty Class of 2024.
Consolmagno’s appointment came a month after Fallon announced its upcoming acquisition by Somerville-based Mass General in a move expected to create the third-largest health insurer in Massachusetts.
With 230,254 total members as of Dec. 31, 2024, Mass General is the state’s fourth-largest health insurer while Fallon is its seventh-largest with 127,844 total members, according to data collected by WBJ’s Research Department.
With 329,708 total members, Canton-based Tufts Health Public Plans is currently Massachusetts’ third-largest health insurer.
In fiscal 2024, Fallon generated $1.84 billion in revenue and held $671.15 million in assets, according to nonprofit financial tracker Guidestar.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
