Workers compensation insurance is designed to cover medical expenses and part of lost wages for employees who are hurt or become ill on the job. This coverage is often mandated by state law once a business surpasses a certain threshold of employees and, depending on which state you’re in, owners and officers may elect to be covered or not.
Workers comp premiums coincide with employee’s payroll, and today’s policies offer more flexible payment options than ever before, including:
- Standard payment options (10 pay, quarterly, monthly, annual)
- Pay-as-you-go monthly reporting
- Automatic payroll integration