Pay-As-You-Go Workers’ Compensation
Workers’ compensation insurance provides medical care and wage payments to an employee that has suffered an injury or illness as a direct result of their job. Traditionally, workers’ compensation involved paying upfront costs based on estimated payroll. Pay-as-you-go workers’ compensation solutions are quickly becoming a popular option for businesses looking to save time and money. Our Pay-As-You-Go Service provides a simplified, alternate way of making your premium payments.
Benefits: ■■ ■■ ■■ ■■
Improves cash flow management Eliminates estimates on annual payroll Automates payments to meet deadlines Simplified and convenient solution
Our Pay-As-You-Go Workers’ Compensation Service provides you with an enhanced and simplified method to manage your workers’ compensation premium payments. Your premium payments will be linked to your payroll, and will be included with every pay. This will ultimately help you better manage your cash flow by eliminating large, infrequent payments. Since our Pay-As-You-Go Service is automated, it will remove the burden of remembering when to make payments, ensuring that they are always accurate and paid on time. Additionally, Paytime will reconcile your actual payroll for the prior policy year in a process the Ohio Bureau of Workers’ Compensation (Ohio BWC) refers to as “Payroll True-Up”. We will file the report annually as required by the Ohio BWC.
Paytime offers a simplified, more cost-effective solution to help you better manage your workers’ compensation. Contact us today at (800) 579-9529.