Long-Term Care Insurance: CalPERS Policies Offer California Public Employees Asset Protection
Program to Promote Long-Term Care Insurance for the Elderly
The state of California implemented the California Partnership for Long Term Care (CPLTC)—its public-private partnership to finance long-term care—in 1994.
The project was part of the Robert Wood Johnson Foundation's (RWJF) national Program to Promote Long-Term Care Insurance for the Elderly.
Key Results: The first group offering, later replicated in Connecticut and Indiana, was CalPERS (the California Public Employees' Retirement System).
- All California public employees, retirees, their spouses, parents, and parents-in-law are eligible for the CalPERS Long-Term Care Program.
- CPLTC provides one dollar of asset protection for each dollar paid for long-term care by the purchaser's insurance policy.
- Once the insurance has paid benefits in an amount equal to remaining assets, the purchaser may apply for Medi-Cal, the state's Medicaid program, to help pay for continuing long-term care and medical expenses without having to spend down remaining assets.
- As of October 2000, 20,000 policies were in effect.
Program to Promote Long Term Care Insurance for the Elderly Project Results
Individual project results from the RWJF national program, Program to Promote Long Term Care Insurance for the Elderly
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