Commonly referred to as workers’ comp, Workers’ Compensation is a form of insurance (as required by law) that provides wage replacement and employee benefits insurance to those who are injured in the course of employment. HRX offers Workers’ Compensation services to ensure that your employees are well-taken care of while reducing the time you spend away from profit-generating activities.
HRX Pay-As-You-Go Workers’ Compensation
Managing workers’ compensation premium payments is a complicated, manual, and lengthy process. Typically, businesses have only one way to pay their workers’ compensation premium: up front and based on an educated guess – not exactly a payment strategy most business owners would advocate. Most programs require large up-front premium deposits and result in costly year-end audits.
HRX’s Payroll management services change the way you manage your premium payments with its pay-as-you-go approach. Rather than paying estimated premium based on projected payroll for the coming year, premiums are calculated based on accurate payroll.
Here’s why our pay-as-you-go product is superior when compared to traditional workers’ compensation programs:
No down payment of policy premium
Improvement of cash flow
Electronic withdrawal of premium payment
Easy year-end audit process with little to no audit liability
Outsourcing workers’ compensation services allows you to free up more time from clerical tasks and paperwork, and focus on growing your business. HRX and our pay-as-you-go vendors bring you this convenience through our trusted partners: