Employers that would like to use a private plan to comply with their paid family leave requirements must apply for approval from the FAMLI Division and are required to pay premiums until they have received formal approval indicating that the private plan or self-insured plan has been approved for use in 2024 and beyond.
Employers that apply and are approved for a private plan will be able to request a refund of the premiums paid in 2023. The private plan must have an effective date on or before January 1, 2024. Employers must submit the application for private plan approval before October 31, 2023, to be able to obtain a refund for the premiums paid. Note that the premium repayment will be reduced by an administrative fee of $500.
Employers can take the following steps to apply for their private plan now:
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Log into the MY FAMLI+ Employer portal. From the dashboard, click on the private plan application page.
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You should be able to click the organization for which you want to submit the private plan application. If you are selecting a plan private plan from an approved carrier, you will check that box, enter the policy number, policy effective date, and policy expiration date. It is here that you may upload your plan documents.
For those applying with a self-insured private plan, the application process is similar but requires the submission of your unique individual plan documents and surety bond information.
The FAMLI Division has stated that they review applications after they have received the application fee. Once they receive the fee and application, a notification of approval will be issued or a notification of the need for additional information will be sent.
As of May 19, 2023, two insurance companies had been approved by the Colorado Division of Insurance to sell employers private plan policies that meet FAMLI requirements. Fifteen additional insurance companies had applied and were awaiting approval.