Workers Compensation via eComp
Pay-as-you-go or Traditional Workers Comp Policy
What is Workers Comp?
Workers compensation provides wages and medical benefits in case of an on-the-job injury. In exchange, the employee gives up his or her right to sue the employer for compensation.
We provide Pay As You Go Workers Compensation plans where you pay the premium based on your payroll run rather than deposits or upfront payments.
Most states mandate employers to carry workers comp insurance coverage because it protects the employer from potential lawsuits by employees.
Most importantly it also protects employees from abusive employers (companies who fail to provide the right tools and good working conditions for their employees).
Workers Comp Insurance Providers
Or just Call us at (949) 202-0078
How Do We Comply?
If you are wondering how you can comply without spending an arm and a leg, there is great news. Technological advances and the evolution of the industry provides easy to follow means of compliance. Additionally, AccuPay can certainly help. We have all the technology and tools in place to serve our clients.
We partner with E-Comp to provide workers comp and liability insurance coverage to our clients. E-Comp provides a cutting edge platform that allows our clients to receive free comparative quotes from multiple insurance carriers.
We have top tier insurance carriers through E-Comp (see bottom of this page). Consequently, our clients receive very competitive rates and unparalleled customer service.
Once signed up, we take care of everything else, including submitting payroll data to E-Comp. E-Comp computes the actual premium amounts, sends you a notification including the withdrawal date. Then on the specified date, the premium amount is withdrawn from your bank account.
Or just Call us at 949-202-0078
How is PAY AS YOU GO Different?
Pay As You Go (PAYG) is the kind of Workers Comp plan that allows you to pay the exact amount of workers compensation premium based on your payroll actual payroll amounts after every pay run.
Therefore, PAYG Workers Comp is different and better than the traditional plan since there is no deposit or down payment.
What does that mean?
Well, your premium is calculated on actual payroll hence making audits are also extremely simplified (almost non-existent). Consequently, PAYG saves everyone involved valuable time and money!
Want to learn a little more? See the chart below for a comparison between traditional and PAYG.
Traditional Workers Comp | Pay-As-You-Go Workers Comp | |
|---|---|---|
Deposit/Down Payment | The employer is subject to a minimum of 10-25% of the annual estimated premium | PAYG does not require a deposit or down payment |
Premium | The annual premium is estimated based on projected payroll for the entire year | Premium is actual. It is calculated on payroll at each pay period and payments made by E-COMP |
Audits | Traditional workers comp requires actual on site audit (or sending actual reports), documentation and possibly additional premiums could be either due or refunded | Audits are handled internally in most cases. No additional paperwork is needed and there is very minimal adjustments, if any |
Why Workers Comp through AccuPay
Working with us for your workers comp needs provides you with pricing across multiple carriers. Therefore, you the customer gets: