Principal to Collaborate with HSA Providers

Principal Financial Group is announcing its first collaboration with HSA provider, HealthEquity, to give retirement customers a holistic picture of their retirement outlook, including their HSA balances. The agreement will give Principal customers with an HSA through HealthEquity the option to access a consolidated view of their financial picture. In addition to this HSA enhancement, Principal Milestones, the new financial wellness offering from Principal, includes educational resources on HSAs to help people use them to their fullest, which may include using the funds for retirement healthcare costs.

“There’s a tremendous benefit in being able to take a holistic view of your financial picture. And with healthcare costs being a top concern for employers, employees, and retirees, it’s an important piece of overall retirement planning. Principal will continue to work with other leading HSA providers to bring this simplified approach to more employees in the workplace.” – VP of customer care at Principal, Joleen Workman.

“As Americans continue to focus on managing healthcare expenses while saving for retirement, the convergence of health and wealth is a critical part of long-term financial planning. Our relationship with Principal to include HSA balances in the Retirement Wellness Planner will allow consumers to further manage their financial savings goals.” – EVP of sales at HealthEquity, Bill Otten.