Panel to reveal recommendations for Pinnacol
Posted: 09/18/2009 01:00:00 AM MDT
Democrats on a committee looking into Pinnacol Assurance are likely to recommend today that the state-chartered workers' compensation insurance fund be barred from giving its employees bonuses for denying claims.
That's one of the potential recommendations expected at a meeting of a special committee that has been examining Pinnacol, a quasi-governmental agency that serves 57 percent of the workers' compensation insurance market in Colorado.
Though Pinnacol officials in the past have called for greater autonomy from the state, they now say the state should avoid "tinkering" with any laws that govern it.
Sen. Morgan Carroll, D-Aurora, said the committee, which has a Democratic majority, is likely to recommend keeping Pinnacol a quasi-governmental agency but also:
* Bar financial incentives for denying or delaying claims or medical treatment and require that conflicts of interest be disclosed.
* Require greater oversight by Pinnacol's board, including "improved complaint provisions...and annual reporting."
* Institute a mechanism for lowering policyholders' rates.
* Create a "Worker's Bill of Rights" to better inform injured employees of their rights.
* Require a "probable reason" to suspect fraud before conducting surveillance on injured workers.