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Payroll reporting

Simple, flexible, and easy pay-as-you-go options for paying premiums.

Method partners with SmartPay to bring employers more flexible options for paying their premium. Through regular payroll reporting, premium will be calculated based on actual exposure and automatically deducted from the insured's bank account.

Benefits to insureds

Improved cash flow management
Real-time premium calculations
Avoid overpaying or underpaying
Simple online reporting system
Automatic withdrawal of payment
Easier year-end audit. Lower risk of premium due

Two options for paying premium based on actual payroll

	Payroll vendor reporting	Self-reporting
Deposit*	0%	0%
Annual fee	$314	$314
Automatic reporting	YES**	NO***
Automatic payment	YES****	YES****
Simple set-up	YES	YES
Online access	YES	YES

FAQ

How does payroll reporting work?

Method partners with SmartPay to offer insureds the option to pay their workers' compensation premiums based on actual payroll "as-they-go" – either through an approved payroll vendor or by self-reporting.**

Who is eligible for payroll reporting?

Estimated annual premium greater than $10,000
Full-term policy inforce with Method
If a risk is eligible, the Payroll Reporting Option through SmartPay will be available and listed on the Quote Proposal for you to present to your insured.
If the insured does not report payroll timely, Method has the right to move the insured to an installment plan.

How do insureds sign-up?

Once an account is bound with Method, our payroll administrator, SmartPay, will contact the insured via email to set up their online account. SmartPay will provide full instructions on their easy-to-use system for reporting payroll each month.

How much does payroll reporting cost?

SmartPay charges policyholders $314 annually, which is collected at the first reported payroll.

Are commissions paid differently for insureds on payroll reporting?

No. Commission payments will continue to be processed on a monthly basis as premium is collected, based on the annual written premium. Any audit premium transactions will also come through the normal commission process as well.

* Accounts with annual premium < $25,000 require a 15% deposit.
** Approved vendor list
*** Need help with your reporting? If your payroll vendor doesn't integrate with SmartPay, or you don't use a payroll vendor, SmartPay can do your payroll reporting for you for an additional annual fee of $325. Learn more about SmartPay Reporting Service (SPRS)
**** ACH withdrawal