If you were a California Citizen on February 1, 2013, and you purchased a Long-Term Care (“LTC”) Insurance Policy between 1995 and 2004 (LTC1 or LTC2) from CalPERS that included “automatic inflation protection benefits,” and you were subjected to the 85% premium increase announced by CalPERS in 2013 and implemented in 2015 and 2016, you are entitled to participate in this proposed new class action settlement.
Category A Settlement Class Members who elected Option 1 – Premium Refund:
The information in this paragraph only applies to Settlement 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 was terminated as of that date, and you no longer owe premiums as of that date. If you make the payment to CalPERS by check, you should stop sending premium payments. 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. However, it may take several months for these deductions to stop. Still, any payments deducted after September 28 will be refunded in full by CalPERS. Refunds for these deductions will be separate from your settlement check and will be sent directly by CalPERS.
If you have any questions or need further information, please visit the FAQs by clicking here or call 1-866-217-8056 (toll-free).