PayPlus® has teamed up with three of the nation’s leading writers of Workers’ Compensation coverage. The Hartford, Intego and E-Comp can provide you with an effortless, accurate and affordable solution to Workers’ Compensation insurance. Located in Connecticut The Hartford is the 3rd largest small business insurer with an A+ A.M. Best Rating. They write in excess of $2 billion in small business insurance. Intego and E-Comp just recently joined this program and are often able to write higher risk companies that in the past had been unable to utilize the pay as you go option.
What this means to you
- Pay as you go eliminates large down payments (normally 25 – 30% of policy annually)
- Eliminates finance charges and billing fees
- Eliminates late fees
- No monthly checks to write
- No anticipated audit adjustments
- Better cash flow management
How does it work?
Workers compensation is required by state law in all states (except Texas and New Jersey). It provides compensation for workers who are injured or become sick on the job in the course of employment.
Pay as you go workers compensation insurance is calculated on your actual payroll and adjusts each pay period as your payroll changes. The premium is drawn directly from your account and clients are notified of the withdrawal 2 days prior to the ACH date.
There is minimal cost to participate in the pay as you go program. Unlike the large national bureaus, we save our clients money with our ancillary products. This pay as you go program is especially helpfull for seasonal businesses, businesses with a large number of employees, or with fluctuating payroll costs.