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Pay as you go workers comp software

Pay as you go workers comp software

Pay as you go workers compensation, or paygo workers comp for short, is a unique workers compensation billing program that InsuranceTrak offers through its software as a service, TrakPay.  Trakpay is a robust, pay as you go workers comp software, that integrates with multiple WC insurance carriers and payroll services.

Thousands of small, medium, and even large businesses are taking advantage of pay-as-you-go workers comp insurance through InsuranceTrak.  We're a leading national provider of pay-as-you-go workers comp software solutions.

Below we'll explain what differentiates our pay as you go WC software as a service offering from others, how exactly the paygo Workers Comp service works, and how to get a quote on Workers Compensation insurance.

pay as you go workers comp software

Pay as you go workers comp software with TrakPay

TrakPay is a unique software as a service that integrates with insurance carriers and payroll providers alike for the purpose of processing pay-as-you-go workers comp reporting and billing.  

TrakPay integrates with numerous insurance carriers and payroll providers so the chances are that if you're a small business owner TrakPay can be your optimal solution for paygo WC.  If you're using a payroll service like ADP or Paychex, then TrakPay would not be a good fit for you as they have their own in-house insurance agency.  

However, many payroll companies do not do their own insurance and work with us to process pay as you go WC.  So, if this is you then you need to call us ASAP as we can help you compete with the large payroll companies that have their own in-house insurance agencies!

pay as you go workers compensation

How do you know if your payroll provider works with TrakPay?

Easy!  Just give us a call or use our contact form to ask us and we'll be able to quickly tell you whether or not your payroll service is "TrakPay certified".  And if they are not "TrakPay certified" no problem.  We can get in touch with your payroll service to get them set up to process pay-as-you-go WC with TrakPay.  

TrakPay already works with many insurance carriers like Hartford, Travelers, AmTrust, Guard, and more.  Do you need to process pay as you go Workers comp through Hartford Xactpay?  We have you covered!  Need to process pay as you go workers compensation though Travelers Travpay?  No problem!  No matter who your current insurance carrier is or what payroll service you use, InsuranceTrak can customize a solution for you.

What is the advantage of using TrakPay for paygo WC?

TrakPay is already set up to process paygo WC with multiple insurance carriers so if you're a small business that is shopping around for the best rate AND you want to get set up on pay-as-you-go workers comp billing then look no further than InsuranceTrak.  We'll shop multiple insurance carriers for you so that you don't have to contact each individual insurance carrier yourself.  This will save you a ton of time and hassle.  

Additionally, InsuranceTrak is insurance licensed all across the country which means that if a certain insurance carrier is not licensed in your state, we'll seek coverage from the companies that do business in your state instead to find you the best priced solution.  

Shopping for workers comp quotes with InsuranceTrak is extremely easy.  Unlike our competition who only offers a handful of insurance carriers that can process paygo WC, InsuranceTrak Services works with over 30 workers compensation insurance carriers!  

This means that we'll go above and beyond to find the best quote for your WC insurance.  In fact, if you have a tough to insure business then many of the standard WC carriers that often process paygo WC might not want to insure your business.  If so, we'll look at all the alternatives to find the very best pay as you go WC plan with the most competitive quote.

Do you offer pay-as-you-go workers comp in every state?

Yes and no.  While InsuranceTrak is licensed all across the country, not all states work with private insurance carriers.  As of October 2015, there are 4 workers compensation monopolistic states that only allow employers to purchase workers comp for their employees through their state insurance fund.  Those state are:

  • Washington
  • Ohio
  • North Dakota
  • Wyoming

Does this mean we can't help you process paygo WC in these monopolistic states?  No!  Even in monopolistic states like Washington State InsuranceTrak offers pay as you go workers comp services.

What exactly is paygo WC?

Pay as you go workers comp is an alternative billing method to the traditional billing for workers compensation insurance which involves making annual payroll estimates.  With paygo WC, workers compensation premium is calculated based on the payroll reported each pay period as opposed to using estimates.  

Pay as you go workers comp service highlights:

  • Premiums are based on actual payroll not estimates
  • Eliminate large installment payments
  • Eliminate or reduce additional premiums due at audit
  • Ease of annual policy audit
  • Maximize cash flow
  • Real-time evaluation of premium payment history and calculation

Pay as you go workers comp software

Who uses pay-as-you-go WC?

Everyone should!  Well, not exactly, but if you have a workers compensation policy then you typically have 1 or 2 ways you can pay your WC insurance premium.

  1. The traditional billing option which relies on payroll estimates and then an audit at the end of the policy term which can result in either a balance owed or a refund
  2. The alternate option which doesn't rely on payroll estimates and instead bases premium paid off the payroll that was processed and reported each pay period. 

This alternate billing option has been around for a while now.  However, no one has quite perfected the pay as you go workers comp service like InsuranceTrak with its TrakPay software platform.  

Just need a quote on Workers Compensation insurance?

Call us at the number above to shop pay as you go workers comp insurance quotes today!  A member of our friendly staff will take some information from you over the phone and explain to you all the options so you have the very best information and quotes available.  You can trust InsuranceTrak like thousands of businesses have already to get you the very best workers compensation quote for your small business, medium-sized business, or even large business!

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