The Principal Financial Group Picks Up the Tab On Health Savings Account Fees
October 22, 2007 (Des Moines, Iowa) — The Principal Financial Group®, is lowering the cost of consumer driven healthcare for the second year in a row. In an effort to make these products even more affordable, The Principal® will pay certain customer fees on health savings accounts (HSAs) and health reimbursement arrangements (HRAs) for a limited time.
"As employers evaluate health care coverage for 2008, more employers than ever before will consider consumer driven health care. We want to make this decision easier by removing some of the expense," said Jerry Ripperger, director of consumer health for the Principal Financial Group. "We're excited to offer additional savings because we know consumer driven health care works. Employers are experiencing lower health care costs and more importantly, their employees are becoming engaged in making good health and healthcare choices."
For a limited time, account set-up fees will be paid for health savings accounts. This applies to Principal health savings accounts sold in conjunction with a new qualified high deductible health plan from The Principal with an effective date between November 1, 2007 and January 31, 2008.
Monthly administration fees on health reimbursement arrangements will also be paid for one policy year for all new insurance sales with the same effective dates. If the HRA is sold with an extended rate guarantee, the monthly fee waiver can be extended to a maximum of 15 months.
For more information about consumer driven health care products from The Principal, visit www.principal.com/health/hsa.htm or contact your local Principal Financial Group representative.
Insurance products and services issued by Principal Life Insurance Company.
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About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $282.1 billion in assets under management2 and serves some 18.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1) "The Principal Financial Group" and "The Principal" are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of June 30, 2007.
