Priority One Payroll has been approved with NYS Insurance Fund, and we are proud to offer the NYSIF PAYGO program to our clients.
NYSIF PAYGO is a simple and convenient way for eligible policyholders to pay their workers’ compensation insurance through approved payroll processors.
Why NYSIF PAYGO?
- Eliminates down payment requirements
- Calculates premium based upon actual payroll
- Calculates more accurate premium payments, resulting in smaller audit adjustments
- Allows policyholders to match payments to cash flow
Who Can Participate in NYSIF PAYGO?
- Most new or renewal policies
- Annual premium must be larger than $2,000 for all contracting codes (excludes roofing and certain other contracting codes)
Please note that participation is subject to NYSIF underwriting approval and acceptance of the NYSIF PAYGO Terms and Conditions.
Frequently Asked Questions:
- Q. Can enrollment occur at anytime?
- Policyholders are eligible to enroll at policy issuance or renewal.
- Q. Is there a fee to enroll in NYSIF PAYGO?
- NYSIF does not charge a fee for the program. However, payroll companies may assess a small fee.
- Q. Will a policyholder receive a bill from NYSIF while on this plan?
- Policyholders will not receive a bill unless there is a balance related to a prior period.
- Q. Will NYSIF require audits for NYSIF PAYGO clients?
- NYSIF will continue to audit policies, but we expect the amount of time and work related to audits to decrease significantly.
For more information or if you are interested in enrolling in NYSIF PAYGO, please contact us!