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August 30, 2006

Did you know that Des Moines insurance behemoth Principal Financial Group does health savings account administration? I'm embarrassed to say I didn't know until I saw a report today (no link available) that Principal is waiving setup fees on HSAs set up through Principal Direct Connect. Information about their accounts is here.

Principal apparently leverages its 401(k) administration infrastructure into HSA administration. Their presence in the HSA administration market should make it much easier for employers to make the leap into high-deductible insurance plans.

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