“Pinnacol Assurance of Misleading Audit Practices
One of the primary concerns involves the Classification of Operations. According , Pinnacol’s audit lists three distinct classes of employees for the business, despite the fact that the company operates under only one classification code: 8868 Adult Day Center. This code is specifically designated for professional employees and staff working in an adult day care setting.
further alleges that Pinnacol unilaterally changed their classification to a higher-rated code, one typically used for colleges, and doubled the number of codes without consulting or notifying the company’s owner. This reclassification significantly increased the premium costs. Despite repeated attempts by management to arrange a meeting to discuss these changes, Pinnacol reportedly refused to engage in a discussion about the audit or address the concerns raised.
In addition to the classification dispute, also challenges the employee count cited in the audit. Pinnacol’s audit claims that the company had 20 staff members during the audited period. however, disputes this figure, stating that payroll records show only 7 employees at that time. This discrepancy further contributes to what MANY views as a pattern of inaccuracies that unjustly inflates their insurance costs.
we contends that Pinnacol has failed to provide appropriate documentation or justification for the classification changes, which casts serious doubt on the audit’s validity. The company’s owner expressed frustration that despite their efforts to address these concerns, Pinnacol remains uncooperative, leaving Companies to choice but to seek regulatory intervention.”
“Horrible experience with this company. They will extort from your company until you are out of business. Do yourself a favor and shop around. You'll be supprised by the savings you will find.”
“Where to start? Pinnacol tried hard to deny an emergency surgery for me. They decided withdrew approval for physical therapy less than an hour after a cortisone injection that was administered with the intention of improving the effect of physical therapy. When I then saw no improvement for months and got advice from three orthopedic surgeons that I needed a total hip replacement, Pinnacol approved the surgery, I booked the surgery, then Pinnacol emailed me to say they had revoked approval and required a second opinion (apparently the first three opinions count as only one). I would just self pay to be over this but my personal insurance (BCBS) said that it’s all the same injury and that Pinnacol should be covering the surgery. Moving forward, I will ask employers before accepting jobs who their work comp provider is and if it’s Pinnacol, I would take a pay cut to avoid dealing with this company.”
“Absolute worst workmans comp ever! As the employer of a very small business, I got insurance thru them at 147.00 (ish a month). I was naive and found identical insurance for less than 50.00 per month!
In addition, through a couple of disputes, they charged me two audit charges 2 months back to back for nearly a 1000.00 combined! I disputed the second one, and after not hearing from them for 8 months, I thought it was all over. Then they sent me to collections for 887.00(ish) dollars. I paid it right away and moved on. Now, almost a year later, I get another "premium charge" for 14.23, even though I cancelled a year ago! The reason is “the collections company shorted us 14.23 when paying Pinnacol. I am now waiting for a resolution.
Oh, BTW they ask you how much your payroll is and then not long after, they hit you with a "audit charge" stating that I underestimated payroll and thus owe them more. How the hell they can get away with this is beyond me. When I started my business, I told them I have one FT employee (my son) and I still only have one employee (still my son). Yet they ended up getting an extra thousand dollars by sending me to collections.”
“I always speak to somebody when I have questions. They are always helpful and walk me through processes if I am not sure of how to submit forms etc. Staff is cheerful and upbeat to me.”
“Customer service was very helpful and effective with any questions I’ve had in the past. With annual reviews they have been honest and fair with their pricing of our policy, saving us money.”
“I feel like I am throwing my money in the trash every time I write a check to you. I was closed for an entire quarter due to covid-did I get a break in my premiums? NO! The only reason I have this insurance is because it is required. What a rip off.”
