CalPERS official warns of Medicare privatization during member call

During a recent Retiree Town Hall meeting on April 16, 2025, CalPERS Board Member Yvonne Walker addressed critical concerns regarding Medicare and the importance of advocacy for retirees. The discussion highlighted the growing trend of privatization within Medicare, particularly through the introduction of Advantage Plans, which some attendees believe are eroding the original Medicare benefits.

One participant expressed concern that these changes are happening unnoticed, suggesting that organizations like AARP and CalPERS need to take a stronger stance in advocating for the preservation of Medicare. Walker acknowledged these concerns while emphasizing the commitment of CalPERS' healthcare team to monitor and advocate for the best possible options for members.

In addition to the Medicare discussion, Walker reminded attendees about the release of the 2023-2024 transparency report available on the CalPERS website, which outlines various programs and their progress. She also urged retirees to establish a power of attorney to ensure their interests are protected in case of incapacitation, noting the challenges that arise without such arrangements.

The meeting concluded with Walker expressing gratitude for the engagement of attendees, encouraging them to stay informed and involved. The next Town Hall is scheduled for June 20, 2025, where further discussions on retiree issues will continue.