Pay As You Go

PAYO Pay As You Owe / PAYGO Pay As You Go

PAYO provides you with a seamless Pay-As-You-Owe workers’ comp payment solution, freeing you up to do what you do best: run your business. Many business owners find it increasingly difficult to comply with ever-changing IRS tax-filing rules. It is also challenging to pay large, up-front premium deposits to bind coverage, make timely installment payments and contend with large additional premiums due at audit. That’s where PAYO comes in.



Benefits to You

  • Bind your workers’ comp coverage with no money down at policy inception and renewal
  • Enjoy cash flow benefits of paying premium based on “actual” payroll, not estimates
  • Pay your workers’ compensation premium through your payroll company, calculated each pay period
  • No longer write checks for premium invoices
  • Simplify your audit process
  • Budget more effectively by staying current and on top of your workers’ compensation business expense

PAYO Frequently Asked Questions

Q. How does PAYO work?

A. Workers’ compensation premium is based on payroll. With PAYO, your payroll company calculates the premium at the same time they are processing your payroll. They remit the premium report directly to the insurance company. Either the insurance company or your payroll company will debit your desired account for premium due.

Q. How does PAYO help my cash flow?

A. Your premium will be based on actual payroll instead of an annualized estimate. PAYO is a seamless payment option yielding better control of your cash flow.

Q. What are the PAYO eligibility guidelines?

A. Businesses that meet our underwriting guidelines, generate $1,000 or more in annual workers’ compensation premium and outsource their payroll.

Q. Are there any upfront costs when choosing the PAYO payment plan?

A. No deposit or down payment makes it easy to secure coverage with PAYO.

Q. Who do I contact to get started?

A. Please contact your Beacon Business Insurance Broker at (888) 923 6828 to find out just how simple it is to get started. We will help you find an approved payroll partner if you don’t already have one. Our payroll provider partner is approved for most of the companies that offer this type of payment solution.

About Our Insurance Company Partner

Our insurance company partner is a national insurance carrier, who specializes in providing workers’ compensation and niche commercial lines coverage for small and medium sized businesses. You can trust our insurance partner and rely on their strength and security for your insurance needs.

  • A.M. Best rating “A” (Excellent)
  • Ranked 8th nationwide in the National Association of Insurance Commissioners (NAIC) workers’ comp market share report
  • Publicly traded on the NASDAQ
  • More than $11.3 billion in total assets
  • More than $4.1 billion in written premium

PAYO provides superior workers’ compensation coverage through our insurance company partner who is also partnered with payroll companies across the country, including our preferred payroll partner. BBIS also offers big discounts bundling supporting business such as contractor’s license bond, general liability, business owner’s policy (BOP’s), commercial auto and more!

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