Principal® HSA Top Features
Principal Life Insurance Company was an early carrier of health savings accounts, and we offer one of the most robust products in the market. With a Principal® HSA, you get an edge with features like:
- Combine with any qualified high deductible health plan (HDHP) — Use an HDHP from Principal Life, or from any other carrier.
- A variety of investment options for all ages, all stages — You need options for each stage of life and health. As needs change over time, our portfolio strikes a balance between easy access and higher accumulation potential:
- Interest bearing checking account with a VISA® debit card and checks are available for people with frequent medical expenses who need day-to-day easy access
- No minimum deposit required to open an HSA
- Competitive interest rates paid on all balances
- Certificates of deposit (CDs) are available for clients approaching retirement or wanting a higher rate of return with the greater security of FDIC insurance
- 1-year, 3-year and 5-year terms; minimum balance of $1,000 per CD
- Contribute once per year with no change in maturity date or interest rate
- Mutual fund options are available for customers who accumulate funds in their HSA and may want long-term investment options
- More than 40 mutual fund options
- Required minimum investment of $1,000 per fund
- Easy Administration — Our Direct Connect system helps quickly and easily manage your HSA from the comfort of your desktop
- Online technology based on our award-winning 401(k) platform, and built using additional feedback from employers - making it a snap to use
- Transmit funds electronically, report contributions and transfer funds into employee accounts online - no more sending checks for contributions or fees
- Employs state-of-the-art encryption software so your information remains secure
- Education and enrollment — Easy-to-use, low-hassle enrollment and education materials in both paper and electronic format.
- Compliance and legislative knowledge of the health industry — Invaluable in lowering the “hassle factor” as HSAs evolve. The Principal is recognized as an industry leader.
- One company of contact — The simplicity and efficiency of one benefit management website and one enrollment process, administered by one company
- Employees can login, view HSA balances, and use interactive resources to help improve health and navigate the health care system.
- You can also access information about any other product you have with the Principal Financial Group, including medical insurance, 401(k) and more!
For more information
- If you’re interested in an HSA, please contact your local broker or call our HSA Hotline.
- Learn about high deductible health plans
- Learn about the basics of HSAs
- Learn more about the Principal HSA from our flyer
- Find a local Principal Life sales office
This is not a complete statement of the benefits, exclusions and limitations of the insurance described here. HDHPs and custodial services for HSAs offered by Principal Life Insurance Company. Bank products and services provided by Principal Bank, Member FDIC, Equal Housing Lender. HSA monies held in a Principal Bank account are FDIC insured. Insurance and securities are not FDIC insured and have no bank guarantee. Securities may lose value. Securities offered through Princor Financial Services Corporation, 800-222-5852, member SIPC. Principal Life, Principal Bank, and Princor® are members of the Principal Financial Group, Des Moines, IA 50392.
EC1050-1
09/2007
