Pay-as-You-Go Worker’s Compensation Insurance

SourceOne Partners can help you find the best solution for workers’ comp insurance in Florida and throughout the country. We have a vast knowledge of the payroll industry and our relationships with insurance partners enables us to provide you with competitive bids at one time. We will help you save time and money, while minimizing the risks, liabilities and costs.

Workers’ compensation insurance is a state mandated in most states. It is an insurance program that provides compensation to employees who suffer job related injuries or illnesses, regardless of who was at fault. While the federal government administers a workers’ comp program, each state has its own laws and programs. Employers who do not carry workers’ compensation insurance for their employees risk being personally liable for all medical bills in addition to significant governmental fines.

In Florida, workers’ comp insurance is required if the business is:

• Employer of non construction that employs 4 or more full or part time employees
• Employer of construction that employs 1 or more part or full time employees

As per Florida law, you must identify each employee who is covered as well as report any change in job duties or amount in payroll. The Florida Division of workers’ comp is responsible for enforcing employer compliance.

Workers’ Comp Pay-As-You-Go

Pay-as-you-go workers’ compensation allows business owners to align their resources and make exact payments for the coverage on a per pay period basis, therefore eliminating additional premiums at the end of the year resulting from miscalculated estimations in payroll and possibly eliminate the need for workers’ comp audits.

With pay-as-you-go workers’ comp the payment is automatically debited per payroll with no surprises at audit time.

 

Take Advantage of Pay-As-You-Go Workers’ Comp

We have helped countless business owners free themselves from the never ending back office resources and compliance issues associated with workers’ comp through our payroll partners.

With pay as you go workers’ comp, your benefits include:

• Premiums based on actual payroll
• Little to no down payment requirements, which maximizes cash flow
• Eliminates larger installment payments
• Eliminates or reduces year end additional premiums
• Real time evaluation of premium payment history and calculation

SourceOne Partners can help find the right solution for your business and has over 50 years of combined experience in the industry. While navigating the workers’ comp waters can be confusing, SourceOne can help you:

• Take advantage of discounted plans to provide you with significant workers’ comp discounts
• Improve Cash flow by spreading premium payments over your payroll cycle
• Reduce administrative burden with premiums automatically deducted and paid directly to your insurance carrier
• Increase accuracy as premiums are based on actual payroll, reducing risk of late payroll cancellation and minimizing final audit adjustments.

SourceOne Partners will help you find the right solution to manage the calculations and payment of premiums with ease and fulfill all state codes and regulations to enable your business to run smoothly and efficiently.

Start the process today. Contact us for a free review at 561.674.0748 or email us here.