Most employers are required to carry Workers' Compensation coverage for their employees with only a select few states not requiring such coverage. At Optima we believe in shopping the market to find you the best pricing available through our setup to provide you with Pay-As-You-Go Workers' Comp Coverage.
In setting up Pay-As-You-Go, we will calculate the necessary premiums for each pay period and remit that payment directly to the carrier. This allows for an accurate payment, making your annual audit a breeze.
| Pay-As-You-Go Program | Traditional Policy | ||
|---|---|---|---|
| Deposit/Down Payment | No Deposit/No Down Payment | 25% Minimum Deposit | |
| Premium Calculation | On Actual Payroll at Each Pay Period | Estimated Based on Projected | |
| Reports | No Reports to Complete | Monthly/Quarterly Audit Reports | |
| Audit | Minimal Adjustments, Premiums Paid on Actual Payroll | On-Site Audit, Documentation, Additional Premium Due or Refund | |
Program Carriers
Our program is designed to streamline your workers' compensation payments, aligning them with your actual payroll. This approach helps in better managing cash flow and reducing year-end surprises. For more information on how our Pay-As-You-Go solution can benefit your business, or for any queries, please feel free to contact us.