Principal Debuts Worker Health Offering

May 6, 2002 ( - The Principal Financial Group is offering a new employee health care program.

The Principal’s Innovative Group Benefit Solutions features five PPO medical insurance offerings and a half-dozen options for co-pay prescription drugs, the company said in a press release.

The company said the health insurance programs emphasize lower employer premiums by instituting higher worker deductibles, requiring the use of in-network providers, and by passing along some of the cost to the employees.

The program also offers flexible spending accounts (FSA), which allow employees to set aside money for medical costs. Voluntary supplemental insurance is also available at a group rate. 
The Principal said employers can help manage their benefit program through its Web site, by adding new members, making member changes, reviewing and printing bill statements, and paying premiums via electronic funds transfer.

Employees can use the site to access a personal summary of their health care benefits, view provider directories, check FSA balances, and search and print online benefit booklets.