Rocky Mountain Voice

Tag: Pinnacol Assurance

Lawmakers Weigh $300M Pinnacol Split To Shore Up State Budget
Colorado Politics, Approved, State

Lawmakers Weigh $300M Pinnacol Split To Shore Up State Budget

By Marianne Goodland | Colorado Politics The panel of Colorado legislators in charge of crafting next year’s budget has finalized the 2026–27 spending plan built on deep cuts and one‑time cash transfers in an attempt to close a shortfall of more than $1.2 billion. The plan is leaving lawmakers frustrated with the reductions to core services. Some cited cuts to health care programs for children and families, though others argued the spending plan “protects what matters most.” That $1.2 billion figure comes from the governor’s economic forecast. The legislature’s economists, however, warned of an even bigger deficit at around $1.5 billion. A combination of factors have led to Colorado’s budget woes. Democrats have pointed to the congressional budget approved last ...
Colorado Lawmakers Weigh $500 Million In Cuts As $1.5 Billion Deficit Looms
Colorado Politics, Approved, State

Colorado Lawmakers Weigh $500 Million In Cuts As $1.5 Billion Deficit Looms

By: Marianne Goodland | Colorado Politics The legislature’s Joint Budget Committee is working through a list Wednesday of about 150 suggestions to cut as much as $1.5 billion in general fund dollars out of next year’s budget. The largest on the list prepared by JBC staff is $198 million in cuts to the funding for the annual senior and disabled veterans homestead exemption. Funding for the homestead exemption has to come out of general fund dollars in the 2026-27 budget because the state does not have a Taxpayer’s Bill of Rights surplus that would normally cover that cost. The other side of the issue is Gov. Jared Polis’ support for a proposal to allow Pinnacol Assurance to privatize, with the hopes that half of the funds Pinnacol would pay the state as a result ...
Colorado Taxpayers Miss Out on TABOR Refunds Under Polis Budget Plan
The Denver Gazette, Approved, State

Colorado Taxpayers Miss Out on TABOR Refunds Under Polis Budget Plan

By Marissa Ventrelli | The Denver Gazette Gov. Jared Polis on Friday submitted revised budget requests for the next two fiscal years, calling for new public safety spending, changes to Medicaid growth, and renewed efforts to privatize Pinnacol Assurance. Notably, the governor said Colorado residents won’t get refunds from the Taxpayer’s Bill of Rights (TABOR). “We are focused on protecting the issues that Coloradans care most about – education, access to health care and safety — while delivering a balanced budget for Colorado,” he said. “In this difficult budget environment, we are doing everything we can to deliver the best possible results for Colorado and know that the Joint Budget Committee will have challenging decisions to make in the months ahead. We look forwar...
Polis Budget Plan Sparks Bipartisan Pushback Over Medicaid Costs and Pinnacol Gamble
Colorado Politics, Approved, State

Polis Budget Plan Sparks Bipartisan Pushback Over Medicaid Costs and Pinnacol Gamble

By Marianne Goodland | Colorado Politics Gov. Jared Polis’ proposed state budget for 2026-27 drew sharp criticism Wednesday from the legislature’s Joint Budget Committee, as lawmakers from both parties criticized plans to slow Medicaid spending growth and to rely on a deal to privatize Pinnacol Assurance. This quasi-state agency is the state’s largest provider of workers’ compensation insurance. Polis has already cut $79 million in the 2025-26 budget, primarily for rates paid to Medicaid providers in dental, behavioral health and services to children with disabilities. The governor’s 2026-27 budget proposes an additional $197.7 million in general fund dollars, or about 5.6%, in the Medicaid program. But the projected growth is at 11.9%, or $631.4 million. He has also brought in...
Polis proposes conversion of Pinnacol in controversial measure to balance budget
Approved, State, The Sum & Substance

Polis proposes conversion of Pinnacol in controversial measure to balance budget

By Ed Sealover | The Sum & Substance Gov. Jared Polis’ pitch to convert Pinnacol Assurance into an independent company is being driven not just by money it could generate for the state budget but by the belief that failing to loosen the company’s operational restrictions could jeopardize its sustainability. The Democratic governor sat for an interrogation before the powerful Joint Budget Committee on Wednesday about his plans to address a nearly $1 billion budget shortfall, including $638 million in expense cuts and revenue additions he has proposed. Among the most prominent and controversial of those suggestions is a proposal to allow the state-chartered workers’ compensation insurer of last resort to act as a private company, which could add $100 million to next year’s budget a...

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