CalPERS Plans Open Enrollment for Long-Term Care Insurance Program
CalPERS announced its intention to reopen enrollment in its Long-Term Care Insurance Program, perhaps by the end of the year. The Program, which is only open to California public employees and retirees (as well as their spouses, parents, parents-in-law, and adult siblings), stopped taking new applications in 2009. CalPERS announced that it will seek to amend California law to permit applications from the adult children of California public employees and retirees in an attempt to broaden the pool of policyholders.
The Program is funded entirely from the employees and retirees that take part. Employers do not contribute. The Program provides coverage for nursing home, in-home health service, and other long-term healthcare costs.
The announcement follows CalPERS decision, in October, to institute step rate hikes for existing policyholders.
Author: Jake White
