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[June 9, 1999 ]
Long-term care coverage is an important financial planning tool for people of all ages. The younger you are when you apply, the less costly your premiums will be.
Join the more than 116,000 public employees and retirees now enrolled in the CalPERS Long-Term Care Program. All UC employees, including part-time employees, may apply for this valuable protection during the 1999 Application Period which ends June 30, 1999.
What is your risk of needing long-term care and who would pay for it?
- Forty percent of those receiving long-term care today are age 18-64
- Six out of 10 people over age 65 will require some type of long-term care
- Forty-three percent of people age 65 and over will enter a nursing home
- Long-term care is typically not covered by health insurance or Medicare
The CalPERS Long-Term Care Program offers coverage on a not-for-profit basis by a public agency to all California public employees, teachers, retirees, their spouses, parents, and parents-in-law. Long-term care coverage can help protect you from the high cost of long-term care services. The average annual cost for nursing home care in California is $47,000 today! Care at home can cost $20,000 a year or more. These figures are expected to double by the year 2020.
Take steps today to protect your financial future from the high cost of unexpected long-term care needs. Remember, the 1999 application period ends June 30, 1999. Visit CalPERS' website or call 1-800-338-2244, 24 hours a day, 7 days a week, to request an application kit from the CalPERS Long-Term Care Program.