Nelson Brings 31 Years of Comprehensive Financial Experience in Health Care
October 18, 2012
WPS Health Insurance, the leading not-for-profit provider of health insurance in Wisconsin and the state's top provider of affordable individual health insurance, announced today that Tom Nelson has been promoted to chief financial officer effective October 1, 2012. Nelson replaced Bill Beisenstein, who retired from the company on September 28 after more than 24 years of service.
Beisenstein oversaw all WPS accounting, treasury, and facility functions, as well as the accounting function of WPS subsidiaries, EPIC Life Insurance Company and WPS Health Plan, Inc. (Arise). He also oversaw all building and office service functions and had executive oversight of dental products and the partnership with Delta Dental of Wisconsin. Before joining WPS, Bill served 15 years with accounting firm Grant Thornton, eight as a partner. Bill also served for two years as a senior accountant with Touche Ross & Company.
"It is with mixed feelings, but mostly great appreciation, that we say goodbye to Bill," said Mike Hamerlik, President and Chief Executive Officer of WPS. "Every day, Bill lived up to our values of honesty, integrity, ethical business practices, and community leadership. Though he is too humble to say it, Bill leaves a proud legacy of service and professionalism that his successor, Tom Nelson, will work hard to continue."
In his previous role as senior vice president of Commercial Business, Nelson was responsible for all commercial sales, marketing, actuarial services, underwriting, operations, medical affairs, and regulatory services. He joined WPS in 1981 as a staff accountant. Later serving as vice president of Accounting for 13 years, he oversaw the day-to-day accounting functions for WPS and its subsidiary businesses with a focus on cost, budgeting, and strategic planning. In 2009, Nelson was promoted to senior vice president of Commercial Business.
"We are very fortunate to have Tom to take Bill's place. Tom's many years with WPS make him well prepared for his new position. His extensive experience and deep understanding of the industry, as well as his passion for this company, will ensure that we continue to serve our customers well," said Hamerlik.
Said Nelson, "I couldn't be more excited to be WPS' new CFO. It's an exciting time in the industry and I look forward to partnering with Mike, our board, and the rest of the management team to execute our strategies and achieve great success."
Nelson brings to his new position more than 31 years of comprehensive financial experience in the health care industry in both private and governmental business. Nelson holds a bachelor of business administration degree in accounting from the University of Wisconsin-Whitewater. He is also a certified public accountant.
About WPS Health Insurance
Founded in 1946, WPS is Wisconsin's leading not-for-profit health insurer, offering affordable individual health insurance, family health insurance, high-deductible health plans, and short-term health insurance, as well as flexible and affordable group plans and cost-effective benefit plan administration for businesses. The WPS Medicare division administers Part A and B benefits for millions of seniors in multiple states, and the WPS TRICARE division serves millions more members of the U.S. military and their families. In 2012, the international Ethisphere® Institute named WPS one of the World's Most Ethical Companies for the third straight year. WPS is the only health insurance company to earn this distinction multiple times. For more information about WPS Health Insurance, visit www.wpsic.com.