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Principal Health Insurance Company

Principal Health Insurance Company is a leader in the insurance and finance industry. Along with insurance, Principal offers a wide variety of financial products to businesses, institutions, and individuals. Though products are offered to all of these groups, Principal specializes in the insurance needs of small and medium sized businesses.

Through the Principal Health Insurance Company, employers can offer their employees health benefits, disability, life, vision, and dental insurance. Also, individuals seeking coverage have access to a wide variety of insurance products from the Principal Insurance Company.

Read through this review of Principal Health Insurance, take a look at the reviews of Principal Insurance left by customers of Principal at the bottom of this page, and then be sure and use the box on the side of this page to compare quotes from many different health insurance providers.

History of Principal Insurance Company

The Principal Health Insurance Company was started in 1879 with the goal of providing inexpensive life insurance solely to bankers. Since then, the company has expanded its products, scope of influence, and assets. Principal now employs over 15,000 people, has over 15 million customers, and over $144 billion in assets. Each year over the past 125 years, Principal has increased steadily in assets.

Principal Group Plans

Principal offers group plans to employers that are consumer driven. This means that the employees have flexibility and choice within their plan. The first plan offered is the Principal High Deductible Health Plan. This plan has no co-pays and low monthly premiums. This is due to a high deductible with a cap for out of pocket expenses. This plan is ideal for generally healthy people who don’t require a lot of medical care.

The next plan offered through Principal’s Group Insurance is a Health Savings Account. This is partnered with a High Deductible Health Plan. This type of account allows employees and employers to deposit pretax dollars into an account. The money can then be withdrawn by the individual to pay for qualifying medical expenses including the health insurance deductible.

Another plan offered that works with a High Deductible Health Plan is the Principal Health Reimbursement Arrangements Plan. This plan requires the employer to designate an annual amount that is available to pay towards their deductible. Employees can use this money along with their own to pay the deductible. If money is left in the account at the end of the year, it rolls over to the next year. This can be a helpful planning tool for budgeting medical spending each year.

The last type of plan offered for group insurance is The Employee Choice Solutions Plan. This plan allows employees to choose the PPO network that is right for them. Employers choose two or three different options and then allow employees to decide. This gives employees more freedom to find a plan and network that works with their needs. It also five employers more control over expenses when employees must use a network with preset costs.

Principal Dental Plans

In addition to these medical plans, Principal Health Insurance Company also offers dental insurance. Employers can offer their employees the Preferred Provider Organization (PPO) Plan. This allows employees to choice the dentist they want to use. However, dentists within the network will have cheaper rates. This PPO Plan typically pays 25% of dental expenses within the network and less outside of the network.

Another dental option is the Exclusive Provider Organization. This is available to businesses in California only. The Exclusive Provider Organization covers up to 80% of eligible dental costs when the employ chooses one provider with in the network and uses that provider for all dental needs. Either of these plans can be combined with other dental plans or dental discount programs for additional savings.

Other Principal Offerings

Vision insurance is also offered to groups through Principal Health Insurance Company. This plan has no co-pays, no deductibles, and no networks as long as providers are seen within specified time frames. Coverage includes eye exams, prescription glasses, prescription lenses, contact lens fittings, and laser surgery. An added benefit is that 90% of all dentists accept this plan.

Disability Insurance is available to individuals through an employer. A survey shows that over half of all bankruptcy filings are because of a disability. Offering this coverage to your employees protects your assets as well as theirs. Principal offers long term or short term plans as well as voluntary employee-paid coverage. Voluntary coverage is paid completely by the employee but it provides the company for the employee to work with.

In additional to all of these plans and policies, Principal offers its employer members seminars and materials through the Principal Wellness Company. This plan offers quarterly and yearly information, seminars, classes, and take home materials to employees. The goal is to improve the overall health of the organization thus leading to less medical intervention. This will in turn decrease what employers need to spend on insurance.

Compare Principal Health Insurance Quotes

Deciding what health insurance company to go with is a big decision. Try using a quote tool, there is one above, to get basic rate quotes from several insurers. This comparison will show you the options available to you or your company making it easier to make your health insurance decision.Get started comparing the best health insurance providers today!

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5 reviews

  • Columbus lady /
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    Please be aware that this company is actually a company called IAB insurance and you want to check out the complaints against this company first before giving them any money!

    They are really slick at getting you to sign up and pay them before you read any of their coverage information. BE CAREFUL…after the fact they will not call you and you can’t get ahold of them.

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    I am “covered” by Principal Dental insurance and I am advising any people looking to buy into this plan to STAY AWAY! There are plenty of better companies with comparable plans and prices that are MUCH more consumer-friendly. Principal Dental has company policies that do not allow the customer service agents to help you in any way- they are not given any power to actually enact customer service.

    The only thing they can do is answer the phone, listen to your complaint, and suggest other Principal services that you could buy. Their policies do not allow for any room to help the customers in distress.

    DO NOT PURCHASE FROM THEM. If you do, and there is ever a problem, then do not be surprised when they do nothing to fix it. They are here to take your money and do everything in their power not to pay it out for your claims.

    I am currently being made to pay $350 for a dental cleaning that should be one of my two-yearly free cleanings, as advertised by their plan. But because I got the cleaning A FEW DAYS before “six months to the day,” as their agent puts it, they are refusing to cover it. Even though my last cleaning was in April and this one was in October. 6 months later. Their suggestion? Go in for an extra cleaning before the end of the year.

    If I wanted three cleanings a year I would be paying to be on a plan with three cleanings a year, not one with 2 free cleanings that Principal finds underhanded ways to get out of paying for. I am now worried about what other sneaky wordings they will use to continue to avoid providing coverage.

  • chris clautice /
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    Principal dental is refusing to pay for a crown because they say it medically unnecessary. They have done this to 3 people in my small company (a public charter school) that employs about 20.

    All dental services were done by providers on their approved group. Principal actually referred me to a California department of Insurance, who issued a ruling that principal is now ignoring

  • tatiana meade /
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    I have been in dentistry for over 20 years and have to say by far this is the worst insurance company to deal with. They deny just about everything. Here are two very recent examples.

    If your teeth are not falling out of your head, they will not pay for a deep cleaning. We just treated a patient in his mid-50’s, smoker and has not had a cleaning in over 10 years.

    Hygienist spent several hours and we got paid $0. Appealed twice and got a big, fat “NO” Not enough bone missing they say. Isn’t what we are here to do is to prevent bone loss? They want us to undo 10 years of neglect in a 30 min prophy? BUT they won’t even pay for a prophy for that day because we already did a deep cleaning and both services are not allowed on the same day. Patients can’t afford to pay for all of it, so dentist has to write it off.

    Just received a denial for a crown. Tooth is on a verge of needing a root canal, 90% of the tooth is a combination of old amalgam and decay. I just wish I could post an x-ray for everyone to see. Textbook tooth that needs a crown, possible root canal due to deep decay.

    I am beside myself.. What a disservice to your customers!!! Shame on you, principal for pocketing the premiums and denying basic treatment to patients who really need it. Principal needs to be investigated and/or shut down.

  • Lisa Ramirez /
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    This Principal Insurance company must belong to Donald Trump. I work for Morongo Casino and the only thing they offer is their PPO plan. My front tooth #8 is cracked by more than a third because I fell down on the street and it hurts to breathe. This insurance denied a crown because it says “Your dental policy or plan states that Covered Charges will not be paid for care that is not necessary and appropriate.

    Based on the Dental consultant’s review, it appears that there was sufficient documentation of disease or injury.” I called them and their rude customer service says only when a root canal is done will a crown be paid. I asked for the credential of their dentist and they said it’s confidential.

    This company is a fraud and should not be allowed to operate. I filed a case against them with the insurance commissioner and still waiting for their response.

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