Payroll Opt-Out: The
Coverage Solution for
Medium to Large Size
Employers
Payroll Opt-Out is the next best thing for employers that cannot or have trouble being placed in the standard market.
Payroll Opt-Out: The
A Workers’ Compensation Program Built for Tough Industries
Payroll Opt-Out is a unique premium only master policy workers comp solutions for businesses in tough industries and with substantial premium (100k+). Like a standard market program, the risk processes its own payroll and pays payroll taxes under its own tax ID numbers. The Work Comp coverage mechanics are that the risk gets a sub-policy to the Payroll Opt-Out providers master policy.
Industries that Excel in Payroll Opt-Out
Payroll Opt-Out is a solution tailored to all tough industries including but not limited to:
Staffing
Agriculture
Manufacturing
Landscaping
Construction
Medical
Transportation
Hospitality
Large Contractors
Waste Management
Repossession
Mining
Payroll Opt-Out: Welcoming Expansion
This program is excellent for expanding businesses as new class codes and New Coverage states can be added seamlessly. Premium is Pay-As-You-Go allowing clients to pay for coverage based on actual payroll amounts during that pay period. This payment process allows for better cash flow throughout the year opposed to a lump sum payment.
Key Points and Benefits
- Coverage through A Rated master policy
- Clients Payroll and Tax functions remain as they are today
- No year-end audits
- Client E-MOD is not used in pricing for Payroll Opt-Out programs
- Pay-As-You-Go payment structure
Why Payroll Opt-Out Works So Well in Distressed Industries
From pricing to process Payroll Opt-Out was designed to fit the needs of tough and distressed clients. E-MOD not being used in pricing allows businesses with large loss history to see great savings on overall pricing. Pay-As-You-Go payment structure allows for cash flow relief and management. Billing is done
through after the fact payroll reports to ensure clients are billed for the correct class codes and payroll amounts.
Bottom Line the client gets cost effective workers’ compensation coverage through providers and carriers that understand their industry while not affecting clients everyday HR, Payroll, and Tax functions.
Get Workers’ Comp Solutions Built for
Hard-to-Place Industries
Agents, Brokers & Referral Partners
Find information on working with Uprisk and download free program resources to help learn, explain and sell our unique solutions.
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