The Principal Reimbursement Arrangement allows employers to determine how much should be paid by employees because it is funded through premiums and will co-exist with the deductible, coinsurance and coinsurance maximum in each plan. For members paying for a calendar year deductible and/or coinsurance, the reimbursement benefit will pay 50% or 100% of the covered charge, up to the maximum reimbursement benefit, Principal said. Those that don’t use their Principal Reimbursement Arrangement benefits can accumulate them for use in future health care.
The Principal Reimbursement Arrangement also provides tools and services for health plan members to obtain information and manage costs including:
- Web site – members can use www.principal.com to obtain information about coverage and prescription drugs
- Health Assessment Tools – Employees can evaluate their overall health and fitness, identify personal risk factors for conditions such as heart disease, obesity and diabetes, and receive information about steps they can take to improve their health.
- Principal Health News – an online service with educational content, a medical library, and health and wellness information and tools
- Case Management – a team of nurses who help members facing serious illnesses effectively manage their benefits and medical care
- Disease Management – specialized assistance for those with chronic conditions. Members with certain chronic conditions receive comprehensive and specialized assistance in taking steps to control and manage their health care needs and improve their overall health.