Paychex, Inc., a leading provider of payroll and human resource services, now offers all of its payroll clients the Paychex Workers’ Compensation Payment Service, with the expansion of the service to include Paychex Major Market Services (MMS) clients – those with more complex payroll and HR needs. Paychex’s automated service uses actual wages – not estimates – to determine a client’s true workers’ compensation cost, resulting in better cash flow and fewer year-end premium adjustments.
“Paychex is an industry pioneer in integrating payroll and workers’ compensation,” said Brad Flipse, Paychex Major Market Services vice president of sales. “By calculating our clients’ premiums every pay period, using actual wages, and requiring only a minimal up-front deposit, those businesses know what their costs are as they go through the year. Our service really offers a cash flow management tool that streamlines an essential process – and minimizes the work around the year-end audit.”
Paychex collects clients’ premiums electronically and sends them to the appropriate insurance carrier. “Paychex partners with many leading insurance carriers, streamlining the administrative part of the workers’ comp process,” Flipse added. “Then we provide our clients with monthly reports that spell out all the details for their company. This is one more way we meet our clients’ administrative HR and payroll needs in every step of the employee life cycle.”
The Paychex Workers’ Compensation Service is administered by Paychex Agency, Inc., a wholly-owned subsidiary of Paychex and licensed insurance agency. Paychex now serves approximately 65,000 workers’ compensation clients. For more information about the Paychex Workers’ Compensation Service, call 1-800-322-7292 or visit www.paychex.com.
About Paychex
Paychex, Inc. (NASDAQ:PAYX) is a leading national provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource and benefits outsourcing services include 401(k) plan recordkeeping, health insurance, workers’ compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices and serves approximately 561,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
Contacts:
Laura Saxby Lynch, 585-383-3074
Corporate
Communications Director
lsaxbylynch@paychex.com
