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EMPLOYERS® PrecisePay®

Making Premium Payments Easier Through Pay-As-You-Go Automation

PrecisePay is EMPLOYERS "pay-as-you-go" premium payment system which allows EMPLOYERS' policyholders to make smaller, more frequent premium payments by paying each payroll period. PrecisePay calculates the workers’ compensation premium from a business's actual payroll figures and assigned classifications each time payroll is processed and submitted to EMPLOYERS. State-mandated assessments, taxes and surcharges are collected in accordance with state law. Payroll information can be submitted to EMPLOYERS either by a policyholder, or by their approved payroll service provider.

Payroll information is reported to EMPLOYERS via a secure website portal by using one of the three following methods:

  • Upload a file from your payroll system.
  • Complete and upload an interactive Excel template provided by EMPLOYERS.
  • Enter the information directly. 
Benefits of PrecisePay 

  • Improves cash flow - no deposit premium is required and premium is paid in smaller, more frequent increments each time payroll is reported.
  • Saves time – there are no checks to write since premium payments are automatically deducted each payroll period.
  • Minimizes audit variances – because premium is calculated based on actual payroll each pay period, the risk of large audit variances at the end of the policy period is minimized.
  • 24/7 online access – Policyholders can access their PrecisePay account to report payroll information and view premium and payroll details on previously-submitted information.

Enrollment & Eligibility

Eligibility is limited to policies with annual premium of $2,500 or greater. Eligible new business and renewal accounts can enroll only prior to policy issuance. Contact your agent for more details and to enroll.

EMPLOYERS will provide eligible policyholders, or their designated administrator, with assistance in setting up the "pay-as-you-go" premium payment deductions and selecting a payroll reporting method.

Eligible Policyholders Must:

  • Authorize automatic (ACH) payments from their bank account by completing the online form.
  • Maintain current bank account information within the PrecisePay system.
  • Submit payroll information each time payroll is processed. Failure to report payroll or pay premium when due will subject the policy to cancellation.
  • Comply with premium audit requests. Premium audits are performed on all EMPLOYERS policies. A benefit of PrecisePay is that it may minimize the amount of an audit adjustment. However, inaccurate payroll information or incorrect job classifications may result in an audit adjustment after the premium audit.

For More Information About PrecisePay

  • Please contact your EMPLOYERS Agent.

PrecisePay: Frequently Asked Questions for Policyholders

Payment Plan Options

At EMPLOYERS, we know that not all small businesses are the same. With this in mind, we offer payment plan options that meet the various needs of our policyholders. View our payment plan options.