CalPERS long term care insurance is a privately funded long term care insurance program and is not rated. Visit the CalPERS website to learn more about CalPERS long term care insurance.
CalPERS offers a comprehensive program of long-term care benefits to help you plan for the high cost of long-term care services. The CalPERS Long-Term Care Program is designed specifically for California public employees, retirees, and their extended family members.
All California public employees, retirees, their spouses, parents, parents-in-law, and adult siblings are eligible for the CalPERS Long-Term Care Program. Those eligible to apply must be between the ages of 18 to 79. This includes members of CalPERS, teachers, school employees, University of California, and California State University employees and retirees, county and city employees and retirees, judges, legislators, and all other California public employees and retirees. Members of the Program can receive benefits anywhere in the nation.
Each plan option offers a variety of daily benefit and total coverage amounts and flexibility on how the benefits are used.
Important Things To Know About CalPERS Long Term Care Insurance
- CalPERS long term care insurance is financially deteriorating and it is possible to lose your benefits and/or your money.
- CalPERS long term care insurance is not financially linked to or supported by the California Health or Pension operations.
- CalPERS long term care insurance is not fully insured and has no financial reserves or surplus as required of regulated insurance companies.
- CalPERS long term care insurance is not regulated by SB898 Rate Stabilization legislation which protects California consumers from unfair rate increases.
- CalPERS long term care insurance rate volatility is not due to low premiums.
- CalPERS long term care insurance is not backstopped by the State of California.
- CalPERS long term care insurance is not endorsed by the State of California.