CalPERS to pay $2.7 billion to settle lawsuit over LTC premium hikes

The California Public Employees’ Retirement System, or CalPERS, has agreed to pay up to $2.7 billion to settle a class-action lawsuit over double-digit increases in long-term care insurance premiums for polices that included “inflation-protection” coverage, the Fort Worth Star Telegram reported. Policyholders who opt for full refunds would have to surrender their LTC plans, under the agreement, the report noted.

 

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