Under the new HDHPs, when a family member meets his/her individual deductible, benefits will start being paid for that individual, according to a Principal news release. Expenses for all family members are then combined to satisfy the remaining family deductible.
With HRAs, employers control funding, but employees manage how health care dollars are spent. Although this is not an individually owned account, at the end of the year remaining health care dollars are carried over for each member.
Through the new, Principal HealthyEssentials, employers receive a complete wellness strategy designed for their employees often at no additional direct costs. As part of this program, Principal offers onsite health and wellness screenings for employers and their employees across the country.
For more information go to www.principal.com.
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