What is ‘Pay As You Go’ Workers' Compensation?
As Workers’ Comp premiums are being calculated for small businesses, the ‘Pay As You Go’ service option has increased greatly in popularity amongst employers.
Traditional workers’ compensation plans require you to pay for the projected cost of your Workers Compensation exposure.
But, with Pay As You Go, there is no large initial deposit, you start out with a small down payment, and payments are calculated after submitting your actual payroll, meaning you pay less upfront.
Pay As You Go gets rid of the uncertainty, allowing you to pay the insurer what you actually owe based on your numbers in real-time, not more and not less.
Advantages of ‘Pay As You Go’:
1. Eliminate Lump Sum payments
2. Pay Accurate Premium Amounts
3. Automate workers’ comp payments
4. Free up operating capital
5. You no longer have to worry about audits at tax time or end of the year reconciliation.
Contact our Benefits experts at firstname.lastname@example.org to learn more about 'Pay As You Go" Workers' compensation for your employees. We're here to shift the balance in your favor. Get Fulcro.