Editor’s note: This is the first in an ongoing series of articles intended to help employers prepare for the January 2024 start of employee benefits under Colorado’s FAMLI program. Look for additional articles in the coming weeks.
Colorado employers intending to meet their obligations under the Family and Medical Leave Insurance Program (FAMLI) by using a private plan instead of participating in the state-run program and that want a refund of the payments already made to the state must have their applications submitted on or before October 31, 2023.
Employers are eligible for a refund of 2023 premiums paid if the employer applies for a private plan on or before October 31, 2023, and the plan’s effective date falls on or before January 1, 2024. As of this writing, there are 18 approved insurance carriers who offer private plans, and one company is awaiting approval.
Employers are required to notify their employees that their private plan has been approved within 30 days of the effective date of the plan. Don’t forget that the premiums your employees paid in 2023 must be refunded to them. For employees who are separated from the employer but who submitted premiums during the year, the FAMLI division will request a list of those employees, and the refunds will be issued to those individuals by the division.