Drake University’s Open Enrollment will be held from November 1 – December 2, 2024. During this time, eligible employees have an opportunity to make benefit changes for the upcoming Plan Year.
Full-time employees have a unique opportunity to elect supplemental life insurance for themselves, spouses/partners, and dependent children. Drake University’s new partnership with The Hartford will provide benefit eligible employees an opportunity to purchase additional life insurance coverage in $25,000 increments up to $400,000 without providing proof of good health, during the open enrollment period.
The Hartford is providing a similar opportunity to purchase supplemental coverage for eligible dependents during the open enrollment period. Full-time employees may purchase coverage in $10,000 increments up to $100,000 (up to 50% of the employee elected amount) for their spouse/partners, as well as coverage in $2,500 increments (up to $10,000) for children up to age 26, without providing proof of good health.
This is a unique opportunity for full-time employees to purchase additional coverage beyond the Drake-sponsored basic life insurance benefit. It provides a wonderful opportunity to provide additional financial support for employees and their families in the event of a death.
If you have questions about Drake benefits, we encourage you to join us Friday, November 15th from 10:00 – 11:30 am in Room 313, Olmsted Center. Wellmark, HealthEquity and The Hartford vendors will be present to answer your questions. For additional information about Drake’s insurance benefits, click here.
As a reminder, this opportunity will only be made available during the current open enrollment period. All benefit elections for the 2025 Plan Year must be made in the Benefits Portal in myDrake no later than 11:59 p.m. on December 2, 2024.
—Debra Wiley, Human Resources
