This week, the CalPERS Board of Administration approved 2021
premiums for their 1.5 million health program members, at an
overall average premium increase of 4.32 percent. Members
enrolled in CalPERS’ Basic (non-Medicare) Health Maintenance
Organization (HMO) health plans will see an average premium
increase of 4.44 percent. Members enrolled in Basic Preferred
Provider Organization (PPO) plans will see an overall average
increase of 8.54 percent. Medicare HMO and PPO plans will see
premiums decrease by 4.46 percent and 0.65 percent,
respectively. The premiums will take effect January 1, 2021.
In other CalPERS news, the system reported a preliminary
4.7 percent net return on investments for the 12-month
period that ended June 30, 2020. CalPERS assets at the end of the
fiscal year stood at more than $389 billion. Despite significant
market volatility which included assets under management
declining by an estimated $70 billion in late February and March,
the CalPERS’ Public Employee Retirement Fund (PERF) was able to
recover nearly all of that value by the end of June.
