Pay-As-You-Go Financing for Workers’ Comp Policies
Knight-Dik offers a payment solution called FLEXPAY for workers’ compensation policies that combines a pay-as-you-go system with premium financing. FLEXPAY allows companies to manage their workers’ comp benefits through a streamlined payroll system that allows greater flexibility in payment schedules and online payroll reporting.
Here’s how FLEXPAY works:
- Seamlessly integrates with insured’s current payroll process
- Works with any payroll company (weekly, bi-weekly, or semi-monthly payroll periods)
- Offers a self-reporting option if no payroll company is involved
- Payments are based on actual payroll and are automatically deducted
- Rates and terms are competitive
FLEXPAY requires only a 10% down payment when financing annual workers’ comp policies. As a result, Knight-Dik clients are able to improve their cash flow and use their extra cash on hand to pursue other business opportunities.
Interested in learning how pay-as-you-go financing for workers’ comp policies can improve your cash flow? Give us a call at 800-286-6353 or fill out the form below. We’d be happy to help.
What Is A Return-to-Work Program?
Many employers will face instances in which an employee cannot return to work. This may be due to an on-the-job injury. When this occurs, it can be a primary goal to get those individuals back to work. The longer they cannot work, the longer you will pay for their lost time.
Managing Open Claims the Key to Controlling Workers’ Comp Costs
One key to reducing your workers’ comp costs is actively managing any open claims to make sure the requisite treatment is proceeding as it should and the reserves are fair and not excessive. Poor management of open claims can add thousands of dollars onto your workers’ comp costs, so improving this can be a substantial and immediate cost saver for your business.
Five Ways You Can Lower Your Workers’ Comp Premium
For business owners, workers’ compensation insurance is a necessity. By learning how the system works, however, you can lower your costs. You can also make sure you’re getting what you’ve paid for. Once you’ve identified a few key components, you can also plan for unexpected events.