Pay-As-You-Go Perks
The days of relying on estimated annual payroll amounts to set money aside for your workers’ compensation premiums are a thing of the past! The CBIZ Workers’ Comp Pay-As-You-Go Program allows you to pay your premium as it’s calculated with each payroll run.
Our program offers various benefits to CBIZ clients, plus it does not replace your current carrier or coverage. By taking advantage of CBIZ Workers’ Comp Pay-As-You-Go Program, you will experience a more streamlined process that reports payroll data to your carrier every time you submit payroll, resulting in a more accurate determination of premium costs.
Less Administrative Burden
CBIZ automatically shares your payroll amount with your workers’ comp carrier with each payroll run.
Accurate Data & Payments
Your carrier can calculate your premium based on your actual payroll amount, allowing for more accurate billing of premiums and a decreased chance of a significant lump-sum premium owed at the end of your policy term.
Improve Cash Flow Management
Workers’ comp premiums are billed after each payroll, leading to easier cash flow control for your organization.
Eliminate Large Down Payments
Decrease the large up-front costs associated with the start of a policy term. Instead, payments are made after each payroll, evening out the amount paid throughout the policy term.
Lower Audit Risk
Making your premium payments based on actual payroll data rather than estimates decreases the chances of large additional balances being due after an audit.
