Pay as you go workers’ compensation is headed towards the standard of the business world, but why is that?
Pay as you go workers’ compensation is becoming more and more popular in the business universe. This is partly due to the array of benefits it can provide to a number of companies. The old way of workers’ compensation involves paying upfront costs based on projected payroll and having to sit and suffer through an annual edit. Pay as you go workers’ comp will not only save businesses time and money, it will also provide businesses with many more benefits. Here are a few things businesses should know about pay as you go workers’ compensation.
- No Up-Front Cost – Pay as you go workers’ compensation eliminates that huge up-front cost. Your clients will also pay into the account in real-time, giving you the ability to better manage your cash flow by paying only when you have to.
- Real Time Management – With pay as you go workers’ comp, you can review data as you need to. You can also have workers’ comp without having to wait until quarterly reports.
- No Audits – The biggest benefit of pay as you go workers’ compensation must be doing away with these audits. Pay as you go workers’ compensation allows you to keep your company moving forward instead of dealing with the hassle of audits.
- Saves Your Business Time & Money – Pay as you go workers’ compensation saves businesses time by removing audits and upfront costs, allowing businesses to manage their information quickly.
Normally, if something sounds too good to be true it usually is- so if you’re looking for more information on why Pay as you Go is a great option for workers comp, we can help you with that! We’re experts on small business insurance and can help you put the proper policies in place–including workers’ compensation. To learn more about getting competitive coverage for your small business clients, contact us today.