Next
Popular
Overview
Workers’ compensation can help protect your employees and your business after a workplace injury or illness.
Insurance
Publisher
NEXT Insurance
Pricing
No integration charge
Help Center
Eddy help center
Eddy + Next
Eddy has partnered with NEXT to offer you Pay As You Go workers' comp insurance. This is automated and linked to your payroll in Eddy can help improve your cash flow and simplify your workers' comp coverage. We’re excited to offer workers comp insurance because payroll and workers comp are deeply intertwined: most states require workers comp insurance as soon as an employer hires their first employee, and insurance premiums are calculated at least in part using payroll amounts.
Integration Overview
Workers’ compensation (“workers comp”) insurance is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. Payroll and workers comp are deeply intertwined: most states require workers comp insurance as soon as an employer hires their first employee, and insurance premiums are calculated at least in part using payroll amounts.
Workers comp insurance is typically required by law in most states as soon as an employer hires their first employee. The regulatory-required coverage provided by a workers comp policy varies depending on the state, but typically includes benefits for medical expenses, disability payments, and rehabilitation costs.
How are workers comp premiums calculated?
Workers comp premiums are calculated using a number of inputs, but one of the main ones is payroll expense. There are two main types of plans:
- pay-as-you-go workers comp insurance allows businesses to make premium payments in real-time based on their actual payroll amounts.
- Yearly audit workers comp insurance requires businesses to estimate their payroll amounts at the beginning of the policy term and make a lump-sum payment for their workers comp insurance premiums, adjusting at the end of the year as necessary. A Yearly Audit plan can often be converted to a pay-as-you-go plan in the middle of the policy term length.
Broker of Record (BOR) changes
If you already have pay-as-you-go workers comp insurance you can do a Broker of Record transfer for your existing insurance. This BOR transfer will allow you to keep their existing policy in place while moving to Eddy’s payroll platform.
The Value of Pay As You Go
- Simple administration: Integration with Eddy payroll and automated payments streamline your administrative processes.
- Better cash flow management: Premiums are paid one payroll period at a time, keeping more cash in your business.
- Save time and money: Premiums are automatically calculated each time payroll is run, with no installment-billing fees.
- Reduce or eliminate audit expenses: Premiums are adjusted to changes in your payroll in real-time, to support audit accuracy.
NEXT Insurance is 100% dedicated to small business. They offer tailored business insurance with zero hassle and big savings, and more than 420,000 small businesses trust them.
Integration Type
Via API
Direction of Data Flow
One-way
Sync Schedule
As events occur
Sync frequency
As events occur
How to enable the integration
To connect the Next Insurance integration, navigate in Eddy to the Admin settings page and click the Integration tab. On the Next card, click the Open button.
What data syncs?
| Info In Eddy | Sync Direction | Name of Info In Next | Notes |
|---|---|---|---|
| Payroll info |  Eddy to partner | Payroll info | Insurance premium payments in real-time based on their actual payroll amounts. |
| Company info | Eddy to partner | Company info | Certain information about the company is shared. |
| Employee info | Eddy to partner | Employee info | Limited employee info is shared. |
About Next
NEXT Insurance is 100% dedicated to small business. They offer tailored business insurance with zero hassle and big savings, and more than 420,000 small businesses trust them.
Next
Popular
Overview
Workers’ compensation can help protect your employees and your business after a workplace injury or illness.
Insurance
Publisher
NEXT Insurance
Pricing
No integration charge
Help Center
Eddy help center
Eddy + Next
Eddy has partnered with NEXT to offer you Pay As You Go workers' comp insurance. This is automated and linked to your payroll in Eddy can help improve your cash flow and simplify your workers' comp coverage. We’re excited to offer workers comp insurance because payroll and workers comp are deeply intertwined: most states require workers comp insurance as soon as an employer hires their first employee, and insurance premiums are calculated at least in part using payroll amounts.
Integration Overview
Workers’ compensation (“workers comp”) insurance is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. Payroll and workers comp are deeply intertwined: most states require workers comp insurance as soon as an employer hires their first employee, and insurance premiums are calculated at least in part using payroll amounts.
Workers comp insurance is typically required by law in most states as soon as an employer hires their first employee. The regulatory-required coverage provided by a workers comp policy varies depending on the state, but typically includes benefits for medical expenses, disability payments, and rehabilitation costs.
How are workers comp premiums calculated?
Workers comp premiums are calculated using a number of inputs, but one of the main ones is payroll expense. There are two main types of plans:
- pay-as-you-go workers comp insurance allows businesses to make premium payments in real-time based on their actual payroll amounts.
- Yearly audit workers comp insurance requires businesses to estimate their payroll amounts at the beginning of the policy term and make a lump-sum payment for their workers comp insurance premiums, adjusting at the end of the year as necessary. A Yearly Audit plan can often be converted to a pay-as-you-go plan in the middle of the policy term length.
Broker of Record (BOR) changes
If you already have pay-as-you-go workers comp insurance you can do a Broker of Record transfer for your existing insurance. This BOR transfer will allow you to keep their existing policy in place while moving to Eddy’s payroll platform.
The Value of Pay As You Go
- Simple administration: Integration with Eddy payroll and automated payments streamline your administrative processes.
- Better cash flow management: Premiums are paid one payroll period at a time, keeping more cash in your business.
- Save time and money: Premiums are automatically calculated each time payroll is run, with no installment-billing fees.
- Reduce or eliminate audit expenses: Premiums are adjusted to changes in your payroll in real-time, to support audit accuracy.
NEXT Insurance is 100% dedicated to small business. They offer tailored business insurance with zero hassle and big savings, and more than 420,000 small businesses trust them.
Integration Type
Via API
Direction of Data Flow
One-way
Sync Schedule
As events occur
Sync frequency
As events occur
How to enable the integration
To connect the Next Insurance integration, navigate in Eddy to the Admin settings page and click the Integration tab. On the Next card, click the Open button.
What data syncs?
| Info In Eddy | Sync Direction | Name of Info In Next | Notes |
|---|---|---|---|
| Payroll info | Eddy to partner | Payroll info | Insurance premium payments in real-time based on their actual payroll amounts. |
| Company info | Eddy to partner | Company info | Certain information about the company is shared. |
| Employee info | Eddy to partner | Employee info | Limited employee info is shared. |
About Next
NEXT Insurance is 100% dedicated to small business. They offer tailored business insurance with zero hassle and big savings, and more than 420,000 small businesses trust them.
