You run payroll with your payroll company. Your payroll company sends E-COMP your payroll data within 7 days of your check date. E-COMP (or your carrier) calculates premium based on your actual payroll, rates and employee classifications and sends you an email with your billing amount and details. Your amount due is withdrawn from your bank account 2 business days later. It’s that simple.
Emails from E-COMP might be getting caught in your SPAM filter or we may have the wrong email address on file. Contact email@example.com to update your email address with E-COMP.
Expense Constant is the standard cost of issuing and maintaining a policy that is assessed by the insurance company. This charge is filed with and regulated by the state and is collected with each premium payment.
The admin fee is a one-time annual per policy fee charged by E-COMP.
The adjusted or “billing” rate applies factors to the base rate to account for premium discount, experience modifications, state surcharges and assessments. We do this so that you don’t have to pay surcharges and assessments upfront.
Your premium calculation is based on actual payroll. Your last payroll may have been higher or lower than normal due to adding or terminating employees or bonuses, etc.
We process payroll files as we receive them from your payroll company. If your policy is new, we may have received multiple pay periods at once to get you caught up. Your billing may have been delayed as we were confirming that your employees were all classified correctly.
We collect premium for all payrolls that fall within your policy period. Your policy may have cancelled, but we received the data for your last payroll after the cancel date. Audits are also processed on cancelled policies and there could be an audit premium due or owed to you.
Workers’ comp. premiums are based on each employee’s job duties, and correspond to the class codes that were set up on your policy. When a new employee is hired, we need to know what their class code is so that proper coverage is established, and the correct premium is charged.
The expense constant is listed separately at the bottom of the report under “Policy Fees,” and should be added to the premium to get the correct total.
You can view history and detail through by logging into our billing portal here.
If we are unable to draw the amount for your premium, your policy may be subject to cancellation for non-payment and/or fees for non-sufficient funds.
Please log in to your account at https://secure.goecomp.com/report/dashboard.html
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