A large insurer is trying to use discounts to persuade employees to open personal health accounts.

Principal Financial Group Inc., Des Moines, Iowa, says it temporarily will waive some fees for employees who set up new health savings accounts and health reimbursement arrangements.

Principal will waive HSA setup fees for the first 31 days for employees with high-deductible Principal health coverage who use the Principal’s Web-based administration system to open new accounts, the company says.

Principal also will waive monthly HRA administration fees for 1 policy year for new insurance sales with effective dates between Oct. 1 and Jan. 31, 2007, Principal says.

If the HRA is sold with an extended rate guarantee, the monthly fee waiver can be extended to a maximum of 15 months, Principal says.