CalPERS Long Term Care Insurance Settlement Finalized!

The settlement became final on September 28, 2023. No appeals were filed of the settlement.

Category A Class Members who elected Option 1 – Premium Refund:
The information in this paragraph only applies to Class Members who elected to surrender their Policies and receive an 80% premium refund (less any benefits received).

The Final Settlement Date was September 28, 2023, which means your CalPERS LTC Policy will be surrendered and you can stop paying premiums as of that date. You will be notified in January 2024 of your final refund amount, but please understand that it will include 80% of all premiums paid to CalPERS (less any benefits received) through the Final Settlement Date. We have been advised by CalPERS that premium payments deducted from Class Members’ pension checks—or that are set up for autopay through their bank accounts—should stop automatically, and any payments deducted after September 27 will be refunded by CalPERS. If you make the payment to CalPERS by check, you should stop sending premium payments.

Class Members who elected Option 1 but recently went On-Claim, applied to go On-Claim, or think they may need to go On-Claim:
If you elected Option 1, but applied to go On-Claim or went On-Claim before September 28, 2023, or believe you may need to go On-Claim before October 28, 2023, then you may qualify for Category I or another process provided for in the Settlement that would allow you to reverse your election. If you are in that situation, please refer to FAQs by clicking here and contact Class Counsel immediately at 1-916-520-6639.

If you have any questions or need further information, please visit the FAQs by clicking here or call 1-866-217-8056 (toll-free).

To learn more about the final CalPERS settlement, click here.


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