ClickCease

What Is Pay-As-You-Go Workers’ Comp?

Having workers’ compensation insurance isn’t only a smart business move for all business owners, but is also required in most cases. Most business owners don’t have lump sum payments for workers’ compensation premiums which can take its toll on your business. That’s why at OCMI, we offer Pay-As-You-Go Workers Comp.

Pay-As-You-Go workers’ compensation allows you to make premium payments each time you run payroll. Your workers’ comp insurance liability is spread out throughout the year.

If you add or lose employees, your premium liability will goes up or down which in return acts like a utility bill, "you only pay for what you use".

At OCMI Workers Comp, we offer Pay-As-You-Go as an alternative to traditional workers’ comp plans. Our programs are designed for you, not the carrier.

Here is a comparison of how it works.

Components
  • Down Payment
  • Payment Type
  • Premium Payment Schedule
  • Financing Charges
  • Net Checks Cash Flow Program
  • Post Audit Adjustments
Traditional Method
  • Up to 25% down payment required
  • Estimated based on payroll projections
  • Paid monthly, quarterly on annually
  • Yes
  • No
  • Potential costly adjustments if payroll was underestimated
Pay As You Go WC
  • Zero Down
  • Exact Payments
  • Paid weekly/Bi-Weekly
  • No
  • Yes
  • Simplified-No surprises

Got Questions? Need an Instant Quote?

We have the answers. Call us at (800) 718-7552  or click here for an Instant Quote.
One of our Live Representatives will be standing by waiting to help you.