The Colorado Family and Medical Leave Insurance (FAMLI) Act provides eligible employees with job-protected, partially-paid time off, effective January 1, 2024. The Family Leave component of this new, state-required benefit can be used, for example, to bond with a new child, care for a seriously ill family member, or to make arrangements for a family member’s military deployment for up to 12 weeks per year. The Medical Leave portion is for an employee’s own serious health condition; this includes pregnancy or childbirth complications, in which case an additional 4 weeks may apply. The employee may also take FAMLI leave to attend to their medical, legal or other needs as a result of domestic violence, harassment, sexual assault, or stalking.
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Generally speaking, private sector employers have to provide this new benefit, while public sector employers like Local Governments have the option to opt-out.
While most Colorado businesses need to have CO Family & Medical Leave Insurance in place by January 1, 2024, they have the option to provide this benefit through the state-run plan or through an equivalent, approved Private Plan.
It’s an alternative to the Colorado State Plan for FAMLI and can be either self-insured by the employer or provided through an approved insurance carrier like ShelterPoint*. An approved Private Plan must at least meet or exceed the rights, protections and benefits of the State Plan.
Employers have the option to withhold a smaller percentage of employee contribution or no contribution at all as an extra perk – as long as they remit the full premium due to the FAMLI Division or approved private plan insurance carrier.
The CO FAMLI Division’s Premium & Benefits calculator is a useful tool to estimate an employee’s contribution (if required) and benefits payout.
There are several things to arrange before the benefits become effective in 2024, for example:
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Unless the employee works for a local government or is self-employed, they have to participate in this new state-required program.
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The information in this document is based on our knowledge of the CO Family & Medical Leave Insurance Act (CO FAMLI) and regulations, and may change as regulations evolve or the CO FAMLI Division issues guidance regarding the regulations. This material is for informational purposes only and is not intended to provide legal counsel. Please consult with an appropriate professional for legal and compliance advice. The information in this material is not intended as an offer of coverage. It is for illustrative purposes only, providing a general overview of the CO FAMLI program. It is not a contract. ShelterPoint Life policies are subject to Underwriting approval. Claim payment is not guaranteed; benefit amount depends on wages. All coverage extends up to policy limits. Policies are reviewed annually and may be cancelled for nonpayment. Please refer to the policy for terms under which it may be continued or cancelled, and for policy exclusions and limitations. In the event of conflicting information with the policy, the policy will take precedence over what is shown in this material.
The ShelterPoint family of companies operates under the “ShelterPoint” name strictly as a marketing name, and no legal significance is expressed or implied. The ShelterPoint family of companies consists of ShelterPoint Life Insurance Company, a NY-domiciled carrier, and its wholly-owned subsidiary ShelterPoint Insurance Company, a FL-domiciled carrier, depending on the state.
Available in Colorado only. Underwritten by: ShelterPoint Life Insurance Company (principal office in Garden City, NY) Policy Form # TBD
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All policies are underwritten and administered by either ShelterPoint Life Insurance Company (principal office in Garden City, NY), or ShelterPoint Insurance Company, a FL-domiciled carrier, depending on the state. Contact Underwriting for details.
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