Several months ago, we provided an overview of Colorado’s new FAMLI Program which officially rolls out January 1, 2023. This new state-run paid family and medical leave insurance program ensures all Colorado workers have access to paid leave benefits in the event they must miss work in order to care for a loved one. While these benefits won’t be available to workers until January 1, 2024, the rollout and funding of the program begins January 1, 2023 in order to ensure the program has sufficient funds to pay out benefits once workers are eligible to file a claim.
As we approach the rollout date, the state of Colorado has released additional information regarding private plans that all employers must be aware of.
The complete Private Plan rules were formally adopted on November 1, 2022 and have been published on the FAMIL Program’s rules page. Some notable updates have been made which impact employers who prefer to select a private plan instead of the state-run FAMLI plan:
In order to qualify for an approved private plan, the plan must provide all of the same rights, protections, and benefits as the FAMLI Program.
All Colorado employers will begin paying premiums in 2023. Those who secure an approved private plan effective on or before January 1, 2024 may apply for a refund of paid 2023 premiums, minus the private plan administration fee.
The private plan application process will most likely open up sometime between Q1 and Q3 2023. The state will provide how-to guides with step-by-step instructions to complete the process within My FAMLI+ Employer once the functionality is available.
The deadline to submit a private plan application in order to receive a refund for 2023 premium payments is October 31, 2023.
At PassioHR, we’re your go-to source for all information associated with the new FAMLI Program. Our team of HR consultants is actively monitoring all updates to the FAMLI Program, and we know exactly what your business needs to do to remain compliant. In addition, all of our clients can reach out to their PassioHR benefits consultant anytime they have questions regarding the new program.
When you work with our team of HR consultants, you’ll have peace of mind that your business is adhering to all regulations for this new program. We’ll make sure you meet all deadlines during the rollout process. If you prefer to select a private plan, we can help you identify the best options which comply with FAMLI Program guidelines and also meet the specific needs of your business.
Contact us today to schedule a free consultation.
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