Monthly Reporting Workers Compensation

A simple way to report your premium and make policy payments directly to the insurance company.

Self Monthly Reporting Work Comp.

Self-Monthly Reporting makes it easy to report and pay actual premium due directly to the carrier.

Many of our carriers work with us to offer direct access to their monthly reporting programs for workers compensation coverage. Employers work directly with the insurance company for reporting and premium and making insurance payments.

Questions? Call 888.611.7467 for a Workers Compensation Shop Specialist

Monthly Reporting Workers Compensation

Workers Compensation Shop.com offers self monthly reporting programs for employers in most states. Monthly reporting programs not available for all risks.

Our self monthly reporting workers compensation program is designed to allow workers comp premium to be paid based on actual payroll instead of estimated payroll. With traditional work comp insurance, the deposit and installments are based off estimated payroll figures. Discrepancies between estimated an actual payroll are not uncovered until a year end audit is performed.

Here is an example of how self monthly reporting works:

An insured is given a workers compensation quote based on the estimated payroll they expect to run in each work comp class code during the policy period.

QUOTE
Trim Carpenter (class code 5645)	Manual Rate: $8.50 per $100
Estimated Payroll ($100,000)	Estimated Premium ($8,500)

Premium:	$8,500.00
Expense Constant:	$200.00
State Surcharge/Taxes (3%):	$30.00

10% Escrow Deposit (refundable)	$1,050.00

Monthly Installments:	Based on Self Report

Once the insured binds the policy they receive a monthly report to complete and submit along with their premium each month.

Self Monthly Reporting Notice
Trim Carpenter- Code 5645	Enter Payroll for Month $8,000.00
Multiply by .0850 rate	$680.00
Multiply by .030 state surcharge	$20.40

Add Column B & C:	$700.40

Premium Due for Month:	$700.40

At the end of the policy period a final audit is likely to be done in order to ensure that the payroll reported each months matches with the insured's annual and/or quarterly payroll reports and to verify that no employees were misclassified. In most instances payroll should be a match and no audit premium will be due to the insurance company. Most carriers that offer self-monthly reporting programs enjoy a higher client retention rate and the monthly reporting program perpetuates with each renewal policies for the insured employer.

Our self monthly reporting programs are great for companies with medium to high premium and fluctuating payroll or worker comp class codes. Our Direct Pay As You Go and Payroll Plus Work Comp solutions may be a better solution

Are you ready for fast and affordable workers comp coverage?3>

Find your best comp rates. It takes 2 minutes.

Independent Insurance Agents Associations.

Secure Site

Workers Compensation Programs

Direct Bill
- The industry standard. 15% to 25% down with 3 to 9 installments.
12 Equal Installments
- Available with some of our carriers to help improve cash flow and reduce upfront premium due.
Self Monthly Reporting
- An improved version of 12 equal installments that helps protect against additional audit premium.
Direct Pay As You Go
- A proprietary program of generating and paying premium based off of you current payroll system.
QuickBooks Pay As You Go
- A proprietary program where work comp is integrated into your QuickBooks software.
Pay As You Go via your Payroll Company
- A proprietary program whereas we report and collect premium from your current payroll company.
Payroll/Work Comp Outsourcing
- Our own solution for integrating payroll and workers' compensation into a single source solution.

Visit NCCI for more educational resources | Government agencies managing workers compensation insurance programs.

Self-Monthly Reporting Program Reports and Payment to the Carrier

Monthly Reporting Workers Compensation

A simple way to report your premium and make policy payments directly to the insurance company.

Monthly Reporting Workers Compensation

Are you ready for fast and affordable workers comp coverage?3>

Workers Compensation Programs

Self-Monthly Reporting Program

Reports and Payment to the Carrier