New optional employee benefits available this year include critical illness, accident and pet insurance

The Memorial Union with autumn leaves on the grass in front.

What:

A new OSU contract with provider Corestream means both full- and part-time employees can sign up for several types of optional insurance plans separate from PEBB health benefits during open enrollment Oct. 1-31.

Corestream is offering OSU employees discounted rates for accident, critical illness and hospital insurance, as well as car, home and pet insurance. There’s also a free suite of retail discounts.

When:

For accident, critical illness and hospital insurance, employees can only sign up during October’s open enrollment, and new coverage will go into effect Jan. 1.

For car, home and pet insurance, employees can sign up at any point during the year. Signing up in the first half of a month (days 1-15) means coverage will take effect on the first day of the following month; signing up in the latter half of a month (days 16-31) means coverage will take effect at the start of the second month following enrollment.

Why it matters:

The contract with Corestream means a more streamlined way to acquire these various insurance plans, said Bonny Ray, executive director for University Human Resources.

“That’s the benefit of working through a provider like Corestream — instead of five bills to pay each month, it’s one payroll deduction,” she said.

The contract is the result of several years of employees and prospective job candidates asking about supplemental insurance options, Ray said.

For instance, the new accident insurance covers emergencies like dislocations, burns and concussions, which goes beyond the “death and dismemberment” option offered through PEBB.

Critical illness insurance provides a lump-sum payment to assist with recovery from conditions like heart attack, stroke, cancer and coronavirus.

“OSU has a really comprehensive benefits package, but this was a piece that was missing,” Ray said. “It’s something we were working hard at getting established for a couple of years, and we’re excited that it’s launching.”

How:

The portal opens Oct. 1 for employees to go online and explore all their insurance options, and a university-wide message will be sent that morning with portal access instructions. To speak with the OSU lifestyle benefits customer care team, call 541-229-5999 or email [email protected].

To learn more about lifestyle benefits and other insurance options, attend one of the informational webinars or benefit fairs, where representatives from all the different insurance providers and several retirement-savings providers will be available to answer questions.

Corvallis benefit fair: 10 a.m.-2 p.m. Thursday, Oct. 3, Memorial Union Ballroom.
OSU-Cascades benefit fair: 10 a.m.-1 p.m. Thursday, Oct. 23, Ray Hall Atrium.
Lifestyle benefits webinars: 11 a.m., Oct. 1 or 1 p.m., Oct. 24. Registration required.

For more insurance news, read about this year’s passive enrollment option to learn whether you need to complete open enrollment this year.

Additional resources: