Free Up Cash Flow for Your Clients
Sage selected The Hartford as a preferred partner to offer quality business insurance coverage through our XactPAY® pay-as-you-go workers’ compensation insurance. Exclusively for Sage users, The Hartford offers a dedicated licensed insurance specialist to work with you and your clients on their business insurance needs.Since The Hartford pioneered pay-as-you-go workers’ compensation billing over 15 years ago, more than 90,000 policyholders have benefited. With our XactPAY®1 solution, your clients can pay their workers’ comp coverage as their payroll is processed which can help give them better control over their cash flow.
The traditional way of billing workers’ compensation includes a premium payment divided into 9 installments, plus a 25% down payment and installments fees. Often this leads to an additional payment at year’s end, when payments are reconciled with actual payroll. This way of billing, with sizeable down payments, fees and extra year-end payments often creates cash flow issues for small business owners. So The Hartford designed XactPAY to make paying worker’s comp premiums easier on small business owners.
How XactPAY Works
- The Hartford receives payroll information each time your client processes payroll – also known as payroll billing
Workers’ compensation premiums are based on the actual payroll – calculated each time payroll is processed and set up to be paid automatically
Benefits For You
- Helps you win new business and increase client retention by offering a valuable solution that few of your competitors can match
- Helps improve your competitive positioning by offering a true service differentiator
Increases positive customer touch points
Benefits For Your Clients
- Eliminates large premium down payments
- Minimizes audit adjustments
- Premium is calculated on actual payrolls
- Helps improve cash flow management
- Efficient online options – like online audit and premium wage reports – that help them save time
- No monthly billing or finance fees
- Industry leading workers’ compensation experience from The Hartford – a market leader for over 100 years
Coverage Benefits and services that help replace lost wages and typically help get employees back to work a full week earlier than average2
Learn More About Small Business Insurance From The Hartford
It’s “on-the-job” insurance for injured workers.
The idea behind workers’ compensation is simple. It’s a state-mandated, “no fault” insurance system that pays benefits to workers injured on the job. In return, employers generally receive immunity from civil lawsuits by employees over such workplace injuries.
Workers’ comp coverage provides an injured employee with payments for:
- Lost wages
- Medical bills
- Vocational rehabilitation
- Partial disability
- Death benefits
Health insurance is not a substitute when an employee gets hurt on the job or has a work-related illness. Workers’ compensation provides primary coverage and only workers’ comp covers certain aspects of the injured worker’s claim. For example, health insurance does not cover employee’s lost pay, nor does it offer death or disability benefits.