[{"_1":2,"_88":-5,"_89":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6189857,"mediaKeyId","5054823-2ef726c91e9d7ce50df643ef361c8add","parentId",5054823,"title","CalPERS board member fields member concerns about Blue Shield contract, provider directories and member services","audioSeconds",1640,"startMs",279000,"endMs",1919000,"viewUrl","/Search/View?dp=1&key=5054823-2ef726c91e9d7ce50df643ef361c8add&start=279&end=1919","thumbnailUrl","https://assets.pipeline.soar.com/5054823-2ef726c91e9d7ce50df643ef361c8add/thumbnail_279000.jpg","articleUrl","/articles/6189857/California/CalPERS-board-member-fields-member-concerns-about-Blue-Shield-contract-provider-directories-and-member-services","mediaUrl","https://secure.pipeline.soar.com/6189857-80e5a885c97a7745687a6c1db14dfec6/orig.mp4?Expires=1770415065&Signature=briDkZU5tMMG-MpczjDFSYCki68EB6SICXV2rQuIW-56-cKdlNa8nT2SyhSiGPFHnFC~q-aOTpRVrOW8j0clEuckUfGp4imUPV86cgynVXmWRkG8C7yM~zYl9qscjCs0PN66EnuG-bh4RqWAbQ9cjDCZLul9wb6076zO~zapVkNzQ9LH5l4oD5aCX1ZI8BJ9vhmB9zTOCFcNOZ88oWKvuZRLVGgWg6uSEzZ~gGOWEqN9hY2VvUcQgJzxHpPOB6reibqUjbcNDMnBnimWlv4Tu6hOz47WT54gd7MNSYqUAFSQbJTbo0T3dnXLzXSEPs43E6dGYDbRRmB~nIoExrm1-Q__&Key-Pair-Id=KUT5TJCACFTXG","author","California Public Employees Retirement System","date","2025-06-23T20:08:50Z","article","Yvonne Walker, a CalPERS board member, told participants at a June stakeholder webinar that the contract between Blue Shield of California and the University of California health system is set to expire on July 9, 2025 if the parties do not reach a new agreement, and she answered members’ questions about how that dispute and other health‑plan changes could affect retirees.

Walker said CalPERS members enrolled in the PERS Gold and PERS Platinum Medicare supplement plans would not be affected by the UC–Blue Shield negotiation. “There would be no impact to CalPERS members enrolled in the PERS Gold and the PERS Platinum Medicare supplement plans,” she said. She added that Blue Shield mailed letters to potentially impacted HMO members and that members enrolled in Blue Shield’s Medicare Advantage PPO plan would later receive letters informing them of the potential termination.

The update followed a broader health‑care briefing in which Walker said the board has received preliminary premium rates and would vote on final health‑care premiums at a July off‑site board meeting. Pharmacy benefits are also up for renegotiation: Walker said pharmacy‑benefit management contracts typically drive health‑care costs and that CalPERS’ pharmacy contract will be considered this year as it approaches a five‑year term. Walker said last two rounds of HMO and PPO contracting covered five‑year periods and helped expand coverage options, including an approved 2026 plan expansion that would add more Kaiser options in Monterey pending final approvals.

Walker also described pending legislation intended to improve the accuracy of health‑plan provider directories. She said the bill would require insurers and plans to be jointly responsible for annual directory accuracy and would set a target of at least 95% accuracy over three years to reduce barriers to care and make it easier for members to find in‑network providers.

During the webinar’s question‑and‑answer session, multiple members described out‑of‑state claims problems and repeated denials for services such as acupuncture after CalPERS moved from Anthem Blue Cross to Blue Shield on Jan. 1. One participant said claims submitted by an acupuncture provider were rejected repeatedly and that only two of the claimant’s January submissions had been adjusted and paid. Another caller said Blue Shield representatives acknowledged a system error that rejected some out‑of‑state claims and that escalations had not produced consistent results.

Members also raised service issues beyond claims. One retiree said her retirement effective date had been altered after submission and that the new date might delay her cost‑of‑living adjustment; Walker replied that the retirement formula and COLA are set in law and cannot be changed administratively and advised the retiree to contact the CalPERS call center while staff investigate the specific case. Several callers described long delays getting case‑level responses from CalPERS; one said it took months to receive a first pension check after retirement because documents could not be uploaded and correspondence relied on U.S. mail or fax. Walker acknowledged the communication problems, said IT and process improvements are underway, and asked staff to look into individual cases.

Walker reiterated that CalPERS does not negotiate contracts between private insurers and provider systems; she said those negotiations are separate between the carriers and the providers, though CalPERS will advocate for members where possible. On member outreach, Walker gave participants her email (Yvonne.Walker@CalPERS.CA.gov) and asked members to allow additional time for individual responses because she expected to be away for two weeks.

No formal board action occurred during the webinar. Walker described upcoming votes: the board will vote on preliminary health‑care rates at its July off‑site and will consider the pharmacy benefit manager contract award after additional review.","mediaType","Video","parentTitle","Retiree Town Hall with CalPERS Board Member Yvonne Walker – June 20, 2025","oneSentenceSummary","At a June webinar, CalPERS board member Yvonne Walker updated members on health‑care matters — including an impending possible contract termination between Blue Shield and the UC system — and answered numerous questions about claims denials, acupuncture coverage, retiree benefits and CalPERS customer service.","taxTitle","California Public Employees Retirement System, Agencies under Office of the Governor, Executive, California","taxId",70079,"location","California","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6189862,"CalPERS reviews four‑year investment plan, weighing total‑portfolio approach",104,173000,277000,"/Search/View?dp=1&key=5054823-2ef726c91e9d7ce50df643ef361c8add&start=173&end=277","https://assets.pipeline.soar.com/5054823-2ef726c91e9d7ce50df643ef361c8add/thumbnail_173000.jpg","/articles/6189862/California/CalPERS-reviews-fouryear-investment-plan-weighing-totalportfolio-approach","https://secure.pipeline.soar.com/6189862-db776484ac96de30c35d068ffcbca8e1/orig.mp4?Expires=1770415065&Signature=TlbQd8boXgXpSlJLWTZGKTTz7GeyfBVTrqHSDIR0dRW0gWWDgiinvSHShlMp0tSNx4e5vo1lHDHC2IWJgpmv7xcN-nwejY6w7NfTql7HqI11zc2AOoxovoNkOWPninkeL-U7Y0L4WL2feWpAOnxs7e~nQLY0f2H3RSo5qQRXLs3YO~Nsxk0dxo4LBXcb9zPTe4shbUm1guhpxX9UM5~TbaaCob7UibAVZpZo2c--~L-tkZFio~sKAQlMZgqfUmGCJ6AZoU6hS6JNQz8YUoPyoYDfXjwOLIarDS5BA7pBjdYCfTomiaovmsobc-~pHsDcKefL1jC8ovYjSSxwnxjs1A__&Key-Pair-Id=KUT5TJCACFTXG","Yvonne Walker, a member of the California Public Employees Retirement System board, said during a June stakeholder webinar that CalPERS is conducting its quadrennial asset‑liability management review and will decide on a new portfolio approach in November.

The review, Walker said, includes an examination of asset‑class performance, updated liability projections and a proposed “total portfolio” approach from CalPERS’ Chief Investment Officer, Stephen Gilmore. “This year is an especially important year for our asset liability management process. We do it once every 4 years, and it's similar to balancing out your bank accounts,” Walker said.

The nut of the discussion is whether to shift from fixed targets for individual asset classes toward a total‑portfolio framework that treats the fund’s investments holistically. Walker said the approach, which her office described as giving the board “a lot more flexibility,” has worked well at other large public funds, including the institution where Gilmore previously served in New Zealand. CalPERS staff, outside experts and the board’s investment consultants are providing analysis and guidance on acceptable levels of investment risk and a reference portfolio against which performance will be measured.

CalPERS staff reviewed a reference portfolio comprised of stocks and bonds this month as part of the process. Walker said the board will continue receiving data and expects to make final decisions about the next four‑year portfolio approach in November. She said the fund is focused on “ways to improve long term outcomes” and on clarifying how much risk the board considers acceptable.

No formal board votes on the portfolio framework were taken at the webinar; Walker said the board will finalize decisions after additional work and deliberation at upcoming meetings. The review is part of CalPERS’ scheduled governance process: the asset‑liability management exercise occurs every four years and is intended to align investment strategy with long‑term pension liabilities.

Background details Walker provided: the board recently reviewed broad asset‑class performance and the investment team’s updated long‑term cost projections. The chief investment officer’s proposal would replace some fixed, class‑level targets with portfolio‑level decisioning to allow more responsive allocation shifts. Officials said they expect additional analysis and public materials to appear on CalPERS’ website as deliberations proceed.","At a June CalPERS stakeholder webinar, board member Yvonne Walker said the pension fund is conducting its once‑every‑four‑years asset‑liability management review and is considering a total‑portfolio approach proposed by Chief Investment Officer Stephen Gilmore, with final decisions expected in November.","actionData","errors"]

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CalPERS board member fields member concerns about Blue Shield contract, provider directories and member services

CalPERS reviews four‑year investment plan, weighing total‑portfolio approach