Pay-As-You-Go Workers Compensation

Pay-As-You-Go Worker’s Compensation

Pay-As-You-Go Worker’s Compensation Insurance policies are somewhat self-explanatory; they allow businesses to pay for their Worker’s Compensation policies throughout the year instead of in a lump-sum payment.  Many times these programs go through payroll companies and the payments are calculated along with payroll.  Because these programs are calculated with payroll, if you have a company that process your payroll, then your ability to use these programs may depend upon who does your payroll and the insurers with whom they work, which limits your options in choosing Worker’s Compensation Insurance.  Some payroll programs, like QuickBooks, may be compatible with your payroll processing software, making it possible to use them with some insurers, but those options will be based upon how you process payroll and the insurer you want to use.  This means that pay-as-you-go may not be a realistic possibility for some insured.  On the other hand, there are two significant benefits of pay-as-you-go programs.  In a pay-as-you-go scenario, the payments are predicated, not on the predicted number of workers you anticipate, but on your actual workforce.  That means that there is less likelihood of an audit increasing your premium as well as less likelihood that you overpay and have to wait for an audit to receive your credit.


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1386 Route 9 | Toms River, NJ 08755 | (732) 286-9600


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