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XactPAY®
If you own a small- to medium-sized business or provide accounting or payroll services for businesses, then you know firsthand about the hassle of having to pay Workers’ Compensation insurance premiums in advance. Large down payments, finance and billing fees, costly year-end audit adjustments—these are just a few of the headaches associated with traditional Workers’ Compensation insurance payment plans.
Now, however, Setnor Byer Insurance & Risk and The Hartford, along with QuickBooks® Payroll software solutions, have a solution: XactPAY®.
What is XactPAY®?
XactPAY® is an integrated payment service available to users of QuickBooks® Payroll systems.* XactPAY® calculates a business’s Workers’ Compensation insurance premiums based on current payroll information, and communicates directly with The Hartford via secure Internet transmissions.
How does XactPAY® work?
It’s simple:
- COMPLETE THIS FORM so that Setnor Byer can call to ask a few questions regarding the profile
of the risk
OR
contact a Setnor Byer XactPAY® representative at 1.888.253.8498 for information and assistance.
- EXPECT A RETURN CALL FROM SETNOR BYER WITHIN 48 HOURS to discuss the premium quotation, dividend plans, and any other discounts offered (coverage is available regardless of the state of operation).
- Once coverage is ordered, Setnor Byer will forward some paperwork for signature and then provide access to an XactPAY® WEBSITE TO DOWNLOAD A SOFTWARE TOOL that will permit QuickBooks® to communicate directly with The Hartford.
- Each pay period, QuickBooks® Payroll software will automatically send total and adjusted payroll information to The Hartford.
XactPAY® will:
- calculate the Workers’ Compensation premium based only on the number of employees on the payroll during that period;
- send notification of the exact amount that is owed for that pay period; and
- electronically withdraw the premium from the authorized operating account.
What are the benefits of XactPAY®?
With XactPAY®, clients will enjoy:
- The Hartford’s competitive insurance rates, exclusive coverage endorsements, and the industry’s leading claim services, including Medical/Case Management, Loss Connect (24 hour claim reporting), and TeamWork, a Return to Work program.
- Improved cash flow
- No down payment and no finance/billing fees
- No end-of-the-year audit surprises
And, clients of Setnor Byer will be getting the most dedicated, knowledgeable service in the industry, available 24/7.
Contact us to learn more about this exciting opportunity: 1.888.253.8498
*XactPAY Web® is a special edition for QuickBooks® users with (1) the 2006 or newer version of any PC Desktop version of QuickBooks®, and (2) a subscription for Intuit QuickBooks® Basic, Standard, Enhanced, or Assisted Payroll (XactPay Web® is not available to QuickBooks® Online Payroll subscribers). The purchase of a Hartford Workers' Compensation policy is necessary to utilize the XactPAY Web® service.
**XactPAY® is a registered trademark of Hartford Fire Insurance Company Corporation.
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