Pay-As-You-Go Workers’ Compensation Premiums
Generally workers’ compensation insurance premiums are paid in advanced based on an estimated payroll figure determined prior to the policy period. This estimate does not take into consideration changes in employee compensation or policy changes.
Employers are demanding an integrated pay-as-you-go solution to be built into their payroll software.
Business policy holders, insurance agents, payroll processors or PEO’s now have access to a pay-as-you-go billing solution through PenSoft Payroll.
- Setup employees’ classification code in PenSoft (the classification codes will have been sent to you from InsureLinx)
- Process Payroll
- Generate the Workers’ Compensation transmission file
- Submit file directly to InsurePay via a secure login
- File will be processed to calculate the premium and the amount will be automatically drafter from your account (ACH).
You’re done! It is so simple.
Interested in learning more about the pay-as-you-go solution? Call your local agent today and ask if them to contact InsureLinx. If you do not have an agent contact Mark Duncan with ISU Insurance or Cennairus Insurance. Visit http://www.pensoft.com/services/insurepay.aspx for additional information or for assistance in getting a workers’ compensation insurance quote today.