Using a payroll company
Eliminates having to estimate your payroll for the next 12 months.
Allows you to pay your premium by the week instead of by the year.
Avoids an audit so you will never owe money at the end of each policy year.
Claims will not raise your premium.
- Shifts all of the burden and liability for workers compensation insurance, employee administration, payroll processing, payroll taxes, and government compliance from you to your payroll company (see below for further details about administrative fee & services).
The companies that I represent are in the “payroll company” category. They will do all of your payroll processing so they can be sure they are collecting the correct amount of workers compensation premium, and they quickly issue as many certificates as you need showing proof of coverage.