Filed Under:Life Insurance, Life Products

Program To Make Healthy Behavior Pay

Principal Financial Group is introducing an employee health improvement program that gives financial incentives to employees who engage in preventive medical care and healthy behaviors.

Called The Principal Value-Based Health Benefit, the program is available for self-funded clients of The Principal, Des Moines, Iowa.

The program uses a value-based benefit model with two benefit options, according to the company.

Employees who participate in health improvement activities (e.g., preventive screenings and educational seminars) receive a "better health benefit," the company says, noting this often comes at a lower cost. The better benefit includes such things as lower deductibles, co-payments and out-of-pocket maximums.

Employees who do not participate will have a lesser benefit level often at a higher cost, the company adds.

Other features include:

- A wellness program focused on risk identification and improvement through year-round coaching and education.

- Reduced costs for members with special health conditions who follow maintenance medication guidelines.

- Financial incentives to seek preventive care through reduced out-of-pocket expenses.

- Comprehensive member education available in print, online or in person.

"Our new program gives employees concrete, financial reasons to become more engaged in their own health care and accountable for their health-related choices," says Jerry Ripperger, director of business development. The employer benefits, too, he indicates, observing that "a healthy work force saves money and contributes to a healthier bottom line."

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