Most states, including New York, require businesses to obtain workers' compensation insurance coverage. However, most don't know what the best options are, or they struggle to manage their plan and responsibilities.
The good news is that employers don't need to approach workers' compensation alone. With EBC HCM, employers can choose an option that works best for them.
For those who like their current policy and coverage, EBC can help facilitate your plan, making administration easier and more hands-off.
For those who are not happy with their existing coverage, or who are looking for an initial policy, EBC can help you obtain affordable, pay-as-you-go (PayGo) workers' compensation insurance that makes administration easy.
Workers' Compensation insurance can be a time-consuming responsibility that many companies struggle with, especially without the right plan in place.
Some common challenges that EBC HCM can help solve when it comes to Workers' Comp include:
Expensive medical treatments and specialized care have been driving up overall insurance expenses.
Assigning workers to the wrong job codes or mislabelling W2 staff as 1099 independent contractors can lead to overpaying or audit failure.
Failing to update payroll estimates during the year creates unexpected back-premium bills.
Without a PayGo insurance plan, companies may have to make upfront deposits, and risk overpaying premiums due to payroll estimates.
Facilitated Services
Employers who are happy with their existing workers' compensation coverage don't need to continue managing their policy on their own.
With EBC HCM, you can get help facilitating your existing insurance plan so you can start spending less time on administrative tasks, improve cash flow, and get back to the business of your business.
PayGo Workers' Compensation
EBC HCM can help you find affordable workers’ compensation coverage that is designed to provide a money management tool for more efficient cash flow and more organized recordkeeping when it comes to paying premiums and managing your workers’ compensation insurance.
By obtaining a pay-as-you-go plan, you can say goodbye to down payments, premiums based on estimated payroll, and more.