Our vendors offer two different payment options:

1. An annually set premium based on your previous year’s payrolls. 
2. A pay-as-you-go option that adjusts throughout the year based on your company’s growth. 

These each have their own pros and cons. With the annually set premium, you can lock into a single rate throughout the calendar year, allowing you to better budget for workers’ compensation. 

While that’s a desirable perk, not everyone loves it. One of the biggest complaints business owners have about this is the potential for sudden catch-up bills meant to compensate for retroactive coverage identified during the annual workers’ compensation audit. 

These sudden, unexpected invoices can total thousands of dollars, serving a sizable hit to company cash flow. 

But one of our partners overcomes this headache with a pay-as-you-go model. With every payroll that reflects a shift in your hiring history, your premium automatically adjusts. 

This holds three major benefits:

1. You can avoid those ugly year-end invoices. 
2. You can smooth out those large invoices into multiple payments throughout the year (inside your monthly premiums). 
3. You can better manage cashflow. No large, unexpected payments means you can better manage your finances all year long.