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The Principal Financial Group Picks Up the Tab on Health Savings Account Fees
The Principal Financial Group® is lowering the cost of consumer driven healthcare for the second year in a row. In an attempt to make these products even more reasonable, the Principal will pay certain customer fees on health savings accounts (HSAs) and health reimbursement arrangements (HRAs) for a limited time.
Jerry Ripperger, director of consumer health for the Principal Financial Group said, “As employers assess 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. We are 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 each 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.