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Jun 08, 2021 Matt Venuto

The Easiest Way to Get Pay As You Go Workers’ Comp Insurance

The Easiest Way to Get Pay As You Go Workers’ Comp Insurance

We all know the frustrating process of workers’ compensation insurance. Those huge up-front payments put a strain on capital, and the surprise audits always have the possibility of forcing more unexpected payments.

Pay-as-you-go workers’ compensation removes almost all of those frustrations. As small business payroll specialists, we’ve helped all kinds of businesses move to pay-as-you-go. And, in this article, we’re going to reveal the best way to get pay-as-you-go workers' comp insurance.

Pay-As-You-Go Workers’ Comp Insurance

As a small business payroll provider, we don’t sell workers’ compensation insurance. Instead, we connect our clients with our trusted local insurance brokers. The brokers we work with do everything they can to get our clients the very best pay-as-you-go workers’ compensation rates. If you’re ready to move, you can schedule a call with one of our payroll representatives. They’ll connect you with a qualified broker in your local area and help you get the ball rolling in the right direction.

pay-as-you-go workers compensation insurance

What Workers' Comp Should Be

The beauty of pay-as-you-go is that it’s billed on real-time data based on job classification, total wages paid, and an experience modification rate. Paying every period means your workers’ compensation payments are accurate based on actual wages paid to current workers.

There are many factors to consider before buying workers’ compensation insurance from an insurance broker. When meeting with potential insurance brokers, we use specific metrics to evaluate them. 

Does Your Workers’ Comp Provider:

  • Provide a local consultation and stay updated on local laws and regulations?
  • Shop around for the best value for your money?
  • Uphold the same values and standards as your company?
  • Take the time to ensure all your employees are properly classified?
  • Allow easy accessibility? Are they reachable and readily available to help?
  • Provide fraud protection, claims management, carrier negotiations, surcharge reductions, and misclassification solutions?
  • Sell what insurance you need, no more and no less?

Without the right insurance, you may end up wasting time writing checks, overpaying in premiums, paying upfront payments, experiencing endless frustration, and fearing regulation violations. All those risks are mitigated with the right broker and a pay-as-you-go insurance plan.

The Best Way to Get Pay-As-You-Go Workers’ Comp Insurance

At ConnectPay, we do it differently. 

You shouldn't have to spend precious time writing checks and making payments for your workers’ compensation insurance. With pay-as-you-go workers’ comp insurance, all those time-consuming tasks will be completed by your payroll provider.

When we consult with a new client, we walk them through the Six Pillars of Payroll checklist to better understand exactly what services they need. Then, we connect our clients with trusted local brokers who will go to bat to get the best rate possible. As rates increase over time, local brokers will keep shopping to ensure your company is always getting the best rate. Not only that, but local brokers know the ins and outs of local workers’ compensation laws, which ensure you are always compliant.

We make sure our clients' workers’ compensation payments are completed accurately every period, so our clients never have to worry about workers’ comp again. 

Get Started With The Right Pay-As-You-Go Workers’ Comp Insurance

With pay-as-you-go workers’ compensation insurance, you are never underpaying or overpaying for workers’ compensation again. It means the end of frustrating audits, surprise payments, and the beginning of better cash flow and stronger broker connections.

If you’re a small business looking to switch to pay-as-you-go workers’ compensation, you should first consult with your payroll service provider. If you want to talk to one of our Connected Reps about getting pay-as-you-go workers’ compensation from a local broker, schedule a free consultation with us.

pay-as-you-go workers compensation insurance

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Published by Matt Venuto June 8, 2021