Governor Pitches Privatizing Pinnacol

Colorado Gov. Jared Polis pitched privatizing Pinnacol Assurance in his proposed budget for the fiscal year that starts July 1. The governor’s proposal is the opening salvo in budget negotiations with lawmakers. Colorado is facing an estimated $1 billion deficit for the 2025-26 fiscal year. Among other things, Polis is proposing modifying school financing formulas, freezing Medicaid reimbursement rates to address the shortfall. He is also proposing that the state privatize the quasi-public Pinnacol Assurance in a move projected to generate $100 million for the General Fund in the comi...