Intuit launched a new platform to simplify workers compensation insurance payments for small businesses.
The platform enables users to select a pay-as-you-go option from 20 top insurance providers, with premiums calculated in real-time based on QuickBooks payroll data.
The pay-as-you-go benefits of the platform include:
- Payments based on actual payroll instead of estimates of employee activity
- The automatic collection of premiums
- More flexibility in cash flow and paying for changes as needed without lump sum pre-payments
- Greater predictability of payments, as premiums are calculated at every pay period instead of estimated at the beginning of the year
“This is all about giving small businesses more choice in managing workers compensation requirements, saving time and taking away the hassle,” stated Karen Peacock, vice president of small business at Intuit. “Plus, with our pay-as-you-go solution, small businesses don’t have to make big payments of thousands of dollars upfront and dramatically reduce the risk of an audit with a bad surprise down the road.”
Intuit is partnering with 20 insurance providers to offer the open platform.
