Having the right Workers’ Compensation ensures payment and expenses will be covered if your employees are injured from a work-related accident. If your company doesn’t offer Workers’ Compensation, your employees could sue you for damages, leaving your company vulnerable to financial disaster.
Extra Help Workers’ Compensation programs allow your company to have access to affordable Workers’ Compensation insurance with little or no money down. We offer Direct Billing, Payroll Deduction and Pay-As-You-Go plans designed to improve your cash flow and protect your business from annual audit bills.
Protect Your Employees and Maximize Your Cash Flow
Pay-As-You-Go Workers’ Compensation Insurance is a relatively new way to sell business insurance. Traditional Workers’ Compensation and General Liability policies require a deposit of up to 25% of the premium. In addition, installments need to be made during the next six to nine months and, since the model is based solely on an estimated premium, you could have a significant balance due (or refund) after the policy has been audited. As you can imagine, these factors can adversely impact your business cash flow.
How Pay As You Go Insurance is Different
Extra Help Pay-As-You-Go insurance eliminates the cash flow problem. There is no upfront deposit and no annual audit. Your premium is based on your actual payroll per class code, and not an original estimated quote. In other words, the premium due changes in real-time from pay period to pay period, allowing you to maximize your cash flow during the year. When your business is up, so is your premium. When it’s down, your premium is, too. Since the insurance premium is based on actual reported payroll, your risk of a big audit bill at the end of the policy is also eliminated.
As you can see, Extra Help is more than just a payroll outsourcing company; we offer comprehensive solutions for your business management needs. For more information on Extra Help’s services, contact us today!