Pay-by-Pay^® Premium Payment

Program for Workers’ Compensation

Managing workers' compensation premium payments is a complicated, manual and lengthy process. Traditional programs require large up-front premium deposits, typically 20 - 100% of the policy term. Premium payments are based on estimated payroll which can result in costly year-end audits and the manual administration is very time consuming.

ADP's Pay-by-Pay Premium Payment Program for Workers' Compensation allows you to change the way you manage your workers' compensation premium payments. It is a simple, effective and convenient service which helps to improve cash flow and eliminate the confusion associated with managing workers’ compensation premium payments.

With Pay-by-Pay, premium payments are based on actual, not estimated, payroll data and rates set by the insurance carrier. Premiums are paid on a monthly basis, eliminating the need for a large up-front deposit* that can be a financial burden to small and mid-size businesses.

Benefits:

• Helps eliminate large upfront premium payments*
• Minimizes over- and/or under-payments with premiums based on actual carrier rates and actual, not estimated, payroll data
• Reduces the impact at year-end audits
• Decreases the risk of late payment policy cancelations because payments are sent to the carrier on your behalf
• Provides access to a responsive client service team 

Reporting - Pay-by-Pay Premium Report
The Pay-by-Pay Premium Report is a convenient, online, management report available to you at no additional cost, each time you run payroll.**
Click here to download an example of the report.
Click here to download the fact sheet. 

*While premium deposits may be eliminated, mandatory state assessment fees may be required in some states.

**The Pay-by-Pay® Premium Report contains confidential employee payroll information. It is available only to the contact you have provided for workers’ compensation. The contact you have identified may be changed at anytime by calling ADP Insurance Services customer service center at 800-524-7024 from 8:00a.m.-8:00p.m. (EST).

This material covers the offering of the Pay-by-Pay payroll feature of ADP's payroll processing services and does not involve the offer or sale of any insurance product. Some products may not be available in all states. Clients must be using ADP tax filing service to take advantage of the Pay-by-Pay Program. All insurance products will be offered and sold only through Automatic Data Processing Insurance Agency, Inc., its licensed agents or its licensed insurance partners. Certain services may not be available in all states. CA license 0D04044. ©2010