Pay As You Go Workers Compensation

In today’s workplace, workers compensation is an essential component of protecting your business.  Employees who suffer illnesses that are work-related or injuries at work, could potentially be eligible for financial and medical benefits under a workers compensation policy.  Workers compensation is required by law in many jurisdictions, but it also plays a crucial role in protecting workers’ health and fostering a productive workforce.  It not only helps individual workers in times of crisis by assisting with medical expenses, rehabilitation costs and lost wages, but it also promotes a safer workplace as a whole.  Recognizing the importance of workers compensation underscores a commitment to ensuring that employees can perform their jobs confidently, knowing they have a safety net in case of unexpected injury or illness.

EasyWComp at Corporate Payroll Services

When you run payroll at Corporate Payroll Services, you can pay workers compensation insurance with each payroll.  This offers the following benefits:

• Improved Cash Flow: Traditional workers compensation insurance often requires businesses to pay a large down payment in premiums and is based on estimated payroll figures.  Pay as you go workers compensation insurance allows premiums to be calculated based on actual payroll wages paid during each pay period.  This minimizes the need for large lump-sum payments and minimizes the potential of overpaying or underpaying.
• Simplified Audits and Reduced Risk of Surprise Costs: Since premiums are calculated and paid on actual payroll wages rather than estimates, pay as you go workers compensation minimizes the chances of large balances due at the time of audit.
• Greater Flexibility and Fluctuating Workforces: Businesses with fluctuating staffing levels can benefit from the flexibility of pay as you go workers compensation.  Premiums adjust in real-time to the fluctuation in wages and size of your workforce.

This approach helps businesses like yours to pay premiums based on actual wages and not based on estimates that can later cause potential large balances due at the time of audit.  This approach also helps with cash flow within your organization.

EasyWComp is provided by our subsidiary, Corporate Insurance Solutions.  It helps small to medium-sized businesses with workers compensation and business insurance solutions.  Like many of our other services, EasyWComp includes great customer service.

Request a quote or learn more about EasyWComp by visiting https://www.cpsgo.com/pay-as-you-go-workers-compensation/.