Kenneth Fasola will be taking over for Anurag Chandra as president and chief operating officer of HealthMarkets Inc.

Phillip Hildebrand, who became the chief executive officer (CEO) of HealthMarkets, North Richland Hills, Texas, in June 2008, will continue to be the CEO of the health insurer and a member of the company’s board.

HealthMarkets plans for Fasola to become CEO in June 2011 and for Hildebrand to become chairman, the company says.

Chandra is resigning from the chief operating officer post and will be a HealthMarkets advisor through October, the company says.

“Anurag Chandra played a key role in helping us to reshape HealthMarkets,” Hildebrand says in a statement.

Fasola previously was a segment vice president at Humana Inc., Louisville, Ky. (NYSE:HUM).

Fasola has a bachelor’s degree in health planning and administration from Pennsylvania State University. He serves on the Penn State board.

-ab