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Pay as you go Comp1/14
Anyone using pay as you go or have any information positive or negative with regards to it? We've been reading and researching quite a bit and was hoping to get some input from anyone thats using or has used it.
You are better off talking with an insurance company like Federated Insurance and take a high deductible for incidents. (you will pay for small things like stitches, etc) They will manage them for you, but not count against you or report to NCCI
Pay as you go, as I have been told, is not the greatest, nor can it truly give you a mod rating for better rates over time
Thanks Cab. I was thinking of it as an option for some initial part time help. Keep researching.
I use the state homebulders insurance, they will have a monthly form you fill out your actual payroll and use the % multiplier to get amt for comp. then that is multiplied by your loss primary multiplier and send in the bucks, i love it, last year my audit was quick and i was off by three dollars,,
We've been doing "pay as you go" comp for 7 years. It's through ADP and we do our payroll through them too.
We are audited every year in NY anyway and we've had good luck with it. Our rate is below 11% now (started at 16%) and I've been told by several of my friendly competitors that's pretty good for NY.
In my opinion! Pay as you go is usually best if;
Thanks for all the info guys. Wound up getting what seems to be a pretty good rate from The Hartford. Pay as you go, zero down. It'll hurt a lot less.
ADP Total source - they do it all, been a user for 5 years
We use Gusto for our payroll and AP Intego, their insurance partner. It is very similar to ADP, but was quite a bit cheaper for payroll. We have two guys working for us. 5% for our guy that stays in the shop, and 8% for our shop/install helper.