Business Services Industry
The Principal Financial Group has introduced a new health savings account service
HR Magazine, July, 2006
The Principal Financial Group has introduced a new health savings account (HSA) service. The Principal Direct Connect Health Savings Account service is designed to make it easier for employers to administer employee HSAs. The online service eliminates the need for employers to send paper forms or checks to Principal Bank for HSA contributions, thereby reducing the time and paperwork associated with administering HSAs.
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This new service also allows employers to forward HSA contributions deducted from employees' pay electronically and transfer money automatically to plan participants' checking accounts for reimbursements.
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