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