CalPERS Board Approves Premium Hike for Long-Term Care Insurance
On Wednesday, the CalPERS board approved a plan to increase premiums by 15% to 22% for long-term care insurance, the Sacramento Bee reports.
Earlier this week, CalPERS' health benefits committee recommended the rate hike to help the fund deal with recent investment losses and high benefit payouts.
About 160,000 members purchase long-term care insurance through CalPERS (Kasler, Sacramento Bee, 12/17).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.