Pay As You Go Orange.jpgAs an employer in the states of NY, NJ or CT, you’re responsible for adhering to the workers’ compensation laws that impact your operations. Here are some general rules and provisions that apply in each state.

Workers’ Compensation Insurance

From the above, you can see that employers have a number of obligations under each state’s laws, but the primary responsibility is to carry proper workers’ compensation. Failure to do so can subject a company to fines or other consequences:

Despite the fines, the cost of not maintaining proper workers’ compensation can be outrageous if an employee is injured on the job. Litigation for workplace injuries is likely and, without insurance, you’d be forced to pay from company assets.

So workers’ compensation insurance is clearly an investment you must make to do business, but payment is quite unlike most expenses you face. Most insurance companies require employers to pay upfront for an estimated premium, which is based on projected year-end payroll. Clearly, this ties up the cash flow you rely upon to operate your business.

At Paypro, we feature a revolutionary way to comply with state law requirements on workers’ compensation and protect your company from expensive litigation. Our Pay as You Go Workers’ Comp solution utilizes actual payroll figures to establish insurance premiums. This frees up your cash flow and eliminates the need for intrusive audits. Seamless integration between your payroll data and the insurance company reduces administrative strains that result in miscalculations and reporting errors. Your workers’ compensation premium payments are no longer an estimate; they’re concrete figures. Contact us for more information.