CalPERS Long-Term Care Program Opens Statewide
February 6, 2014
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Jeanie Esajian, Information Officer
Application now continuous for public employees and family members
SACRAMENTO, CA - The California Public Employees' Retirement System (CalPERS) newest offering in its Long-Term Care (LTC) Program has opened with fresh, modern options for public employees, retirees and eligible family members to meet their needs now and into the future.
"The CalPERS Long-Term Care Program's latest offering provides a host of flexible options to allow California's public employees, retirees and their qualified family members to tailor a coverage plan that meets their needs now and into the future," said Ann Boynton, Deputy Executive Officer for Benefit Programs Policy and Planning. "We look forward to serving them through these value-added plans." Boynton discusses the new LTC offering in a CalPERS Insight video.
All current California public employees, retirees, their spouses, parents, parents-in-law, adult children and adult siblings between the ages of 18 and 79 are eligible to apply for coverage. Eligible public employees include, but are not limited to, those employed by the State of California and all State departments, state Assembly and Senate, judicial systems, school districts, cities, counties, special districts, public universities and community colleges. Applicants must meet underwriting requirements for acceptance into the program. Public employees do not need to be a member of CalPERS and do not need to be an applicant or policyholder of the CalPERS Long-Term Care Program in order for their relatives to be eligible.
A "soft" opening of the CalPERS Long-Term Care Program started December 23, 2013, and was the first time since 2008 that new applications were accepted. The application period will now be continuous with no closing date.
The new LTC product is designed to provide innovative, contemporary coverage with the flexibility to meet a variety of participants' needs, including:
- Plan options that allow applicants to tailor coverage to suit their needs and budgets.
- Affordable options to help keep pace with the rising costs of receiving long-term care.
- Benefits that make it easier to receive home care or care outside the United States.
Interested applicants may download an Application Kit and information by going to the CalPERS Long-Term Care website. They may also request a kit by calling (800) 908-9119.
A printed version of the Application Kit will be available later this month and an electronic Employer Kit also will be available to help public employers assist their employees who wish to apply for the program. Persons who requested information about how to apply for CalPERS LTC before it reopened will be contacted by CalPERS, later this month.
CalPERS is the largest public pension fund in the U.S., with more than $277 billion in assets. CalPERS administers health and retirement benefits on behalf of 3,089 public school, local agency and state employers. Members number more than 1.7 million in the CalPERS retirement system and more than 1.3 million in its health plans. Additionally, CalPERS administers its LTC Program for nearly 145,000 participants, backed by the more than $3.7 billion in assets of its Long-Term Care Fund. For more information about CalPERS, visit www.calpers.ca.gov.