The Principal Financial Group Teams with Magellan Health Services to Reach New Audience Through Employee Assistance Program
August 31, 2005 (Des Moines, Iowa) — The Principal Financial Group®, the nation's premier provider of employee benefits, now provides assistance to its members experiencing a long-term disability. Through a relationship with Magellan Health Services, members have direct access to an Employee Assistance Program (EAP) which offers solutions-focused consultation for all types of personal issues including emotional counseling, assistance in finding child care and elder care, access to financial planning services and more.
"Larger companies can afford competitive services, but growing businesses constantly seek new ways to level the playing field," said Deanna Strable, senior vice president of the Principal Financial Group. "An employee assistance program is key to a total benefits package that helps attract and retain employees in today's competitive workplace."
At no cost to members, those on long-term disability can access this innovative program which goes beyond mental health resources and offers assistance with all types of personal issues including family relationships, parenting, fitness, stress management, vocational exploration and numerous other topics. By calling a toll-free number, members speak directly with an experienced counselor who assesses employee needs and offers appropriate resources. Online tools for a variety of conditions are available where members answer questions and receive immediate feedback and recommendations for care choices. When assistance is needed beyond the EAP, counselors will help assess the member's needs and direct them to the appropriate services.
"An employee assistance program alleviates many of the fears associated with long-term disability and helps members cope with many aspects of life," noted Strable. "As part of overall disability management, The Principal provides the tools for business owners to help individuals on long-term disability focus on getting back to good health and back on the job."
About Magellan Health Services
Magellan Health Services is the country's leading behavioural health disease management organization, specializing in managed mental health and substance abuse services as well as employee assistance/work-life programs for health plans, corporations and government agencies.
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. A member of the Fortune 500, the Principal Financial Group has $187.8 billion in assets under management2 and serves some 15.2 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.
Insurance products and services issued by Principal Life Insurance Company.
1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of June 30, 2005.
