PrecisePay Eligibility is limited to policies with annual premium of $1,000 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.
Please contact your EMPLOYERS Agent for more information about PrecisePay.