Workers’ Compensation

Pay-as-you-go workers’ compensation provides employers with the option of paying workers’ compensation insurance premiums in installments, specifically with each payroll run. This solution allows employers to streamline their workers’ compensation process, which improves cash flow, saves administrative time and eliminates expensive down payments or end-of-the-year surprise costs. 

With pay-as-you-go workers’ compensation system, your insurance payments are automatically tied to your actual payroll. You pay exactly what you owe each pay period – no more, no less. This means no big upfront payments, better cash flow planning, and no surprise bills at the end of the year.

Yes, pay-as-you-go workers’ compensation helps avoid year-end audit surprises by allowing you to spread out payments for better budgeting and cash flow.

Workers’ comp requirements vary by state. Although state regulations differ slightly, workers’ compensation insurance is required in nearly every employment scenario.

No, only businesses meeting their respective state mandates are required to carry coverage. However, mandates can be required for as few as one employee in some jurisdictions, so it is important to understand your company’s specific conditions. 

Employers with an excessive loss history or catastrophic losses may be subject to increased rates or coverage declination within the competitive marketplace.

All employees, both full and part time, are covered by the company’s workers’ compensation policy. Certain individuals may be excluded – business owners, independent contractors, etc. However, each policy is unique, and every company needs to be underwritten based on its individual merits. 

Instead of estimating payments, Paycor’s workers’ compensation premiums reflect your actual payroll figures. Your wage data is automatically transmitted your insurance carrier each pay period, saving you time and effort.

Paycor offers full-service support to businesses with our workers’ compensation solution. Along with comparison shopping, Paycor’s experienced team of insurance professionals are only one phone call away when questions arise.