Are you seeking an easier way to handle your clients workers compensation premiums? Would your clients like the opportunity to lower their workers compensation premiums?
Managing workers’ compensation premium payments presents a challenge for the country's millions of small and medium-sized businesses. Now, there is a service that automates workers’ compensation premium calculation and payment when businesses run payroll, helping to save time and reduce costly mistakes. The Hartford Financial Services Group, Inc., one of the nation’s largest diversified financial services companies, announced that it has launched XactPAY Web, a QuickBooks Silver Certified product that alleviates the burden of manually monitoring cash flow issues associated with workers’ compensation payments for policyholders of The Hartford.
Among the benefits of using XactPAY Web:
- Your Hartford insured runs their payrolls through QuickBooks®.
- Hartford XactPAY Upload Utility automatically uploads the insured's payroll data each time payroll is processed.
- XactPAY Web® then calculates the Workers' Compensation premium based on the payroll data and The Hartford draws the premium for the applicable period from the insured's bank account.
- Eliminates hefty premium down payments.
- Improves cash flow by enabling as many payment installments as there are pay periods.
- Avoids finance, service and late fees through automated payment plan.
- Minimizes the potential for audit adjustments at the end of the policy term.
- Helps reduce costly mistakes that may result in fines for inaccurate workers’ compensation computations.
Effective January 1, 2009 Hartford XactPAY has lowered the minimum premium for this program and has increased the number of businesses eligible for this excellent and easy to use program.
To learn more about XactPAY Web contact our office at (805) 773-1710 today.