The Regulations Concerning Private Plans, (7 CCR 1107-5) were formally adopted on November 1, 2022. The complete Private Plan rules are now adopted and published on our rules page. Some notable changes from the proposed rules include but are not limited to:
- Approved private plans must take effect no earlier than 60 days after the application date.
- Private plan approvals are good for eight years, with more frequent data reporting and program attestation requirements.
- Employers applying for private plan approval will be subject to an initial $500 administration fee. Employers with approved private plans will be responsible for an annual maintenance fee based on the administrative costs of their particular plan.
- If an employer moves from a private plan to the state-run FAMLI plan, there will not be a fee to do so.
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.
We anticipate opening up the private plan application process sometime between Q1 and Q3 next year. We 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.