The cost (or premium) for Colorado & Medical Leave Insurance (FAMLI) is typically shared between the employer and employee (for employers with 10 and more employees). The actual cost depends on whether the employer obtains FAMLI coverage through the State Plan, self-funds, or purchases fully-insured coverage from a private insurance carrier – like ShelterPoint*.
In 2023 and 2024, FAMLI premiums are set for the State Plan to 0.9% of the employee’s eligible wages up to the Social Security Wage Limit (which, in 2023, is $160,200).
Starting 2025, the rate will be set annually by the FAMLI Division Director and, by statute, cannot exceed 1.2% of wages per employee.
9 or less total employees No employer contribution required
10+ total employees 0.45% full employer contribution required in 2023 and 2024
*In this example, Company D has elected to contribute both the employer and employee portions of the premium.
Private Plan benefits must be equal to or more generous than the State Plan. Most importantly – the employee's maximum contribution must not be more than what they would pay to the State Fund.
Employers with approved private plans are exempt from remitting contributions to the State Fund for future quarters after approval and would instead remit premium to their chosen private plan carrier when due.
Competitive pricing is not necessarily the only reason for choosing a fully-insured private plan. Experience and scalability can translate into fast turnaround times for claims processing and smooth service.
Learn more about fully-insured Private Plans and how to apply for one here .
Since contributions to the State Fund had to start January 1, 2023 and FAMLI benefits don’t begin until January 1, 2024, employers who choose private plan coverage and apply by October 31, 2023 may receive a refund on contributions already made earlier in the year – minus the private plan application administrative fee of $500.
Read more about advance premiums and premium refunds for the CO State Plan here .
For example, if Company A applies for a private plan in August 2023 (with a January 1, 2024, effective date), Company A may receive a refund for contributions made from January 2023 through the approval date of their private plan (when contributions to the State Fund are no longer required).
CO employers can continue to apply for private plans after October 31, 2023, however, they are not eligible to receive the refund.
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Wages subject to FAMLI premiums mirrors those that are included in the Unemployment definition of included wages. They are:
The following are not considered wages and are exempt from FAMLI Premium calculations:
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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