Your business is required to have workers comp, though there may be a more economical option with the pay-as-you-go plan.
How does it work? With a pay-as-you-go workers’ compensation plan, CPU will submit real-time data to the carrier related to your payroll and number of employees. This ensures you’re only paying the exact amount needed each time rather than one bulk policy price that could either be too much or too little. This keeps your cash flow staying right on track.
With a recession in our midst, not having your cash flow tied up now, or later owed, to a worker’s comp plan that was paid upfront isn’t ideal. This is one quick, easy way to better position your business financially while also taking care of your employees.