Workers’ Compensation – A Cash Flow Solution
Workers’ Compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. In exchange, you give up your right as the employee to sue your employer for the tort of negligence. Because you’re a business, you need to provide this type of coverage. But how do you go about it from a financial standpoint? A customized billing solution doesn’t have to be complicated. With Pay as You Go Workers Compensation, you, the employer, are billed a portion of the premium each payroll cycle based on actual wages paid. At the end of the year an audit is still done. You’ll be reporting actual wages, therefore you’ll avoid a surprise bill. Read more on how you can benefit from this type of program. Thanks to The Hartford for their explanation of Pay As You Go Workers Compensation.