The CalPERS Long-Term Care Affair
We have noted in earlier posts that although UC employees are not covered by CalPERS, at one point in the past, they were offered the “opportunity” to buy long-term care insurance through CalPERS. But then CalPERS began jacking up the cost and, for those who protested, offering inferior alternative policies. CalPERS position is that it didn’t deliberately lowball the initial premiums but instead just underestimated what the costs would be. But some subscribers disagree and now there is a lawsuit. From the Sacramento Bee: CalPERS was sued Tuesday over the big rate hikes it imposed on its long-term care insurance…