Pay-As-You-Go Worker's Comp
What is Pay-As-You-Go Worker's Comp?
Pay-as-you-go workers’ compensation allows businesses to automatically remit premium payments based on their actual payroll figures in real time during each pay period, rather than estimating annual payroll at the beginning of the year.
Benefits Include:
- Premiums based on actual payroll – Premiums are calculated using your actual payroll figures each pay period, helping reduce large adjustments at the end of the policy year.
- Improved cash flow – Instead of paying a large premium upfront based on estimated wages, payments are spread throughout the year as payroll is processed.
- Reduced audit surprises – With payroll information being reported throughout the year, the audit process can be more streamlined and require less work from the employer.
- Updated as your workforce changes – Premiums can adjust as your payroll changes, making the cost of workers’ compensation more closely reflect your business throughout the year.
- Less administrative work
- Access to over 30 A-rated insurance carriers
Contact us to learn more about pay-as-you-go workers’ compensation and to see if it’s a fit for your business.
