Principal Life Insurance Company is a member company of the Principal Financial Group® (The Principal ®) . The Principal is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services companies. More employers choose the Principal Financial Group for their 401(k) plans than any other bank, mutual fund, or insurance company in the United States.

A member of the Fortune 500, the Principal Financial Group has $120.2 billion in assets under management3 and serves some 13 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG.

About Principal

The companies of the Principal Financial Group® (The Principal®) are leading providers of health care benefits and wellness solutions. Their long-time experience in insurance, wellness, banking and investment gives you a decided advantage as we develop new health products that integrate these elements to meet your needs.

Principal, Inc.

Corporate Headquarters:
711 High Street
Des Moines, Iowa 50392
(800) 247-4695
CEO:
Larry Zimpleman
Employee Number:
14,999
2008 Revenue:
$10.9 Billion

Product Types Offered

Individuals

The more you know, the better you can manage your health and care. We encourage you to learn about the products, tools and resources we offer that can help you make informed decisions. Most of the plans are offered via an employer, but can also be managed individually.

Consumer-Driven Health Insurance
Consumer-driven health care often involves medical insurance coverage that usually costs less than conventional designs. Frequently, the member is given the option to put some of the money they save into a savings or reimbursement vehicle such as a Health Savings Account (HSA), Health Reimbursement Arrangement (HRA) or Flexible Spending Account (FSA). The member is given the choice of how to spend that money, and there are often tax, savings or accumulation advantages that can be gained by using these funds wisely.

Principal offers the following plans for Consumer-Driven Health:

• High Deductible Health Plans (HDHPs)
• Health Savings Accounts (HSAs)
• Principal Reimbursement ArrangementSM
• Health Reimbursement Arrangement
• Flexible Spending Accounts

Traditional group medical solutions:
Principal Life Insurance Company offers a wide variety of traditional group medical insurance designs. Your employer can select coverage from a variety of benefit design options, with different combinations of calendar year deductible, coinsurance, copay and out-of-pocket expense limit amounts.
Principal offers the following plans for Traditional Medical:

• PPO Benefit Designs
• Classic Comprehensive

Employers

Over 125 years in the insurance business. Nearly 70 years as a leader in employee benefits. More than 75,000 employers, with 5.2 million group insurance members. That’s Principal Life Insurance Company, a member of the Principal Financial Group® (The Principal®).

Principal Life offers great long-term value by designing competitively priced, premier health coverage. They work to improve employee health and drive cost control, and serve you with outstanding claims-paying service and support.

Principal offers the following Health Insurance solutions for employers:

Consumer-driven solutions
Actively engage your employees in cost control through education and empowerment. Includes products such as:

• Health savings accounts (HSAs)
• High deductible health plans (HDHPs)
• One-source solutions for HSAs & HDHPs
• Health reimbursement arrangements (HRAs)
• Principal® Reimbursement Arrangements (fully-insured)
• Flexible spending accounts (FSAs)
• Employee Choice options
• Principal HealthyConnections health and wellness resources

Traditional solutions
The conventional options you’re most likely familiar with, offering a range of price points and benefit levels:

• Preferred provider organization (PPO) group medical insurance
• Classic Comprehensive benefits
• Employee Choice options
• Prescription drug coverage options: included with most designs
• Principal HealthyConnections

Self-funded options:
Principal’s National Accounts Division creates solutions that help customers of all sizes achieve business goals.

• Coverage portfolio
• Flexible spending accounts (FSA)
• Prescription drug coverage
• Stop loss

Provider Network

Principal has one a very strong provider network. You can use Principal’s online provider directory to learn more about doctors, hospitals, other medical services, dentists, vision care providers and pharmacies that work with your Principal plan.

Principal’s Online Provider Directory is a service they are pleased to provide. While they take great care to make sure our Online Provider Directory is complete and accurate, directory information is for reference only and information is subject to change without prior notice. Changes to the directory do occur frequently. As a result, they are unable to guarantee that information in the directory is always current.

Click Here to access the Online Provider directory

Recent News

Here are some of the most recent news regarding Principal:

Helping Employees Bridge the Retirement Income Gap
White paper from The Principal explains benefits of worksite access to income annuities

June 17, 2009 (Des Moines, IA) — The recent financial crisis has compounded the challenges facing those nearing retirement–widening the gap between what they have saved and what they will need.

A new white paper from the Principal Financial Group® shows employers how they can play a key role in bridging that gap by providing access to an easy, automated retirement income solution: income annuities.

A Plan Sponsors Guide: Bridging Employees' Retirement Income Gap with Income Annuities explains how employers can make income annuities available without adding burdensome costs and administrative headaches to the retirement plan.(Continue Reading)

Rating

Principal’s rating, as rated by A.M. Best Company. A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors.

Financial Strength Rating
Rating: A+ (Superior)
Financial Size Category: XV ($2 Billion or greater)
Outlook: Negative
Action: Affirmed
Effective Date: February 27, 2009