Pay as You Go Workers’ Compensation
Navigating the world of insurance, risk management and workers’ compensation coverage can seem overwhelming, and we want to provide an easier solution. Omega Insurance Solutions and Advanced PEO Solutions (Omega/Advanced) are here to help your clients’ business grow by providing them the ability to focus on their core business needs while we take care of their internal tasks which do not directly affect their bottom-line.
Omega/Advanced gives you another option to custom fit your clients’ workers’ compensation needs while saving them time. With our large selection of insurance carriers, we can ensure that your clients will have a payment option that matches theirr payroll activity. Your clients’ business will also get the security in knowing they are being assisted by a company devoted to being an industry leader for “Pay As You Go” products. While it can seem like there are many obstacles to face, having a strategic relationship with Omega/Advanced can help your clients overcome workers’ compensation hurdles that they encounter.
What is PAY AS YOU GO Workers’ Compensation?
PAYGO or “Pay as You Go” is a payment plan that is an alternative to traditional installment plans and is intended strictly for an insured client that utilizes the resources of a payroll company, ASO or PEO to provide payroll services. The product was developed for clients who must have their own policy rather than being rolled up under a master policy for the payroll company, ASO or PEO.
The key advantages PAYGO provides are:
- Managing the cash flow implications of fluctuating payrolls
- Seasonal business cycles
- Eliminating large down payments
- Monthly reporting helps match the insurance expense to the monthly payroll activity. It is ideal for payrolls that vary by job, seasonal highs and lows and growing businesses
- The payroll company is responsible for reporting your clients’ monthly payroll to calculate the updated workers’ compensation premium and remitting payment to the carrier via Omega. Contact with the client is maintained at the payroll company.
How Do We Get Started?
Your clients are concerned with business and want to feel good knowing their partners and vendors are maximizing every opportunity to help them achieve their goals: At Omega/Advanced, we share your concerns. As an initial step, we would like to understand more about your clients’ needs, where their business is and where you expect it to go. Call our PayGo Specialist today for program information and agent appointments.