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Customers Gain More Control Over Health Care Costs, Online; The Principal Financial Group Announces New Health Care Cost Comparison Tool

Posted on: Monday, 26 June 2006, 09:00 CDT

As a health care innovator, the Principal Financial Group(R) introduces the Treatment Cost Advisor(SM), an online tool designed to help members evaluate the price of specific procedures as well as medications. The tool meets a growing need from employers who are encouraging employees to make smarter health decisions.

"Understanding health care costs is complicated, so we wanted to offer a way for our members to identify and compare pricing for everything from minor procedures to surgeries and hospital stays," said Carey Jury, senior vice president of the Health Division for the Principal Financial Group. "As consumer driven health care continues to evolve and more responsibility shifts to employees, we must provide tools and resources to help our members make informed health decisions."

The Treatment Cost Advisor gives access to prices for a wide range of services, tests, physician visits and medications. Employees provide information about their current condition, age, gender and location and then receive estimated costs for procedures covering primary care, specialist visits, treatments, and others. Additional features include definitions for specific medical conditions as well as tools such as "Questions to Ask Your Doctor" and a hospital locator.

Principal HealthyConnections

The Treatment Cost Advisor is one of a number of tools and services available through Principal HealthyConnections. Focused on helping members get healthy and stay healthy, HealthyConnections includes online health assessment tools, a library of health and wellness news and information about managing specific conditions or procedures. A prenatal care program, hospital care coordination, disease management and a number of other services are available to those needing specialized care.

"To remain competitive, companies need to offer more than just health benefits, but also strategies that address the real issue - improving health," said Jury. "This newest tool is one more way we're transforming the health of our members."

The Treatment Cost Advisor, is provided by Subimo and available for insured and self-funded members on www.principal.com.

About Subimo

Headquartered in Chicago, IL, Subimo, LLC licenses an award-winning suite of decision tools, which provide a unique combination of data, content, personalized and interactive models, along with a variety of online wellness tools, so consumers can easily manage and track their personal health status, select insurance coverage, fund their tax-preferred accounts, determine costs for medical services, and select hospitals, drugs, and physicians. Everyone saves money when consumers have better information and can make better choices. Nearly 75 million Americans have access to Subimo's tools through their insurance company or employer. For more information, visit www.subimo.com or call 888-SUBIMO-1.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $205.3 billion in assets under management(2) and serves some 16.0 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

Insurance products and services issued by Principal Life Insurance Company

(1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) As of March 31, 2006.

Source: Business Wire

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