SmartPay
Popular
Overview
SmartPay makes pay-as-you go workers comp insurance easy to manage.
Insurance
Publisher
SmartPay
470 James Street, Suite 007 New Haven, CT 06513
- Phone: 877.905.0786
- sales@smartpayllc.com
- support@smartpayllc.com
- https://www.smartpayllc.com/
Pricing
No extra fee
Help Center
Eddy Help Center
How to Connect SmartPay
Eddy + SmartPay
About Workers Comp insurance
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:
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.
Pay-as-you-go workers' compensation is a flexible insurance payment method where Workers Compensation insurance premiums are based on actual payroll, paid each pay period, reducing upfront costs and ensuring more accurate payments throughout the year.
Integration Overview
Eddy’s Smart Pay integration requires that you are already have an account created with SmartPay. If you do not have an account created, visit SmartPay’s website to get started.
Integration Type
Via SFTP
Direction of Data Flow
One-way
Sync Schedule
Data syncs after each payroll run in Eddy
Sync frequency
Once per payroll
How to enable the integration
Once you have a SmartPay account in place, work with SmartPay to let them know that Eddy is your payroll provider and that you’d like to enable the integration. When this is done SmartPay will let us know the type of data feed that is required for your account.
Prior to our sending payroll information to SmartPay you will need to give us permission to share the data. Users with Owner or HR admin permissions can give this permission. To do this, go to Admin Settings and click on the Integrations tab. On that page you’ll see a card for SmartPay. Click the Connect button and follow the prompts.
When the integration is enabled, Eddy will send employee wages to SmartPay after each Payroll run is completed. SmartPay requires that Eddy send all employees wage information, whether or not the employee is included in Workers Compensation.
SmartPay may charge a fee for the data transaction. In that case the billing will be done through your SmartPay account.
What data syncs?
| Info In Eddy | Sync Direction | Name of Info In SmartPay | Notes |
|---|---|---|---|
| First Name |  Eddy to partner | First Name | |
| Last Name | Eddy to partner | Last name | |
| Company Name | Eddy to partner | Company Name | |
| Check Date | Eddy to partner | Check Date | |
| Workers Comp class code | Eddy to partner | Class code | |
| FEIN | Eddy to partner | FEIN | |
| Pay Period start date | Eddy to partner | Payroll Period start date | |
| Pay Period end date | Eddy to partner | Payroll Period end date | |
| Employee ID | Eddy to partner | Employee number | |
| Work location (state) | Eddy to partner | Work in State | |
| Employee wages subject to workers comp | Eddy to partner | Subject Wages | |
| Employee wages not subject to workers comp | Eddy to partner | Excluded Wages |
About SmartPay
SmartPay has grown into the leading Pay-as-You-Go solution in the market today. They work with 75+ providers, 3,000+ agents, 350+ payroll providers, and 30,000+ policyholders, as well as self-insured groups and premium finance companies. SmartPay consistently offers best-in-class technology, flexible processes, hands-on support for all stakeholders, and a thorough understanding of what it means to be your partner.
SmartPay
Popular
Overview
SmartPay makes pay-as-you go workers comp insurance easy to manage.
Insurance
Publisher
SmartPay
470 James Street, Suite 007 New Haven, CT 06513
- Phone: 877.905.0786
- sales@smartpayllc.com
- support@smartpayllc.com
- https://www.smartpayllc.com/
Pricing
No extra fee
Help Center
Eddy Help Center
How to Connect SmartPay
Eddy + SmartPay
About Workers Comp insurance
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:
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.
Pay-as-you-go workers' compensation is a flexible insurance payment method where Workers Compensation insurance premiums are based on actual payroll, paid each pay period, reducing upfront costs and ensuring more accurate payments throughout the year.
Integration Overview
Eddy’s Smart Pay integration requires that you are already have an account created with SmartPay. If you do not have an account created, visit SmartPay’s website to get started.
Integration Type
Via SFTP
Direction of Data Flow
One-way
Sync Schedule
Data syncs after each payroll run in Eddy
Sync frequency
Once per payroll
How to enable the integration
Once you have a SmartPay account in place, work with SmartPay to let them know that Eddy is your payroll provider and that you’d like to enable the integration. When this is done SmartPay will let us know the type of data feed that is required for your account.
Prior to our sending payroll information to SmartPay you will need to give us permission to share the data. Users with Owner or HR admin permissions can give this permission. To do this, go to Admin Settings and click on the Integrations tab. On that page you’ll see a card for SmartPay. Click the Connect button and follow the prompts.
When the integration is enabled, Eddy will send employee wages to SmartPay after each Payroll run is completed. SmartPay requires that Eddy send all employees wage information, whether or not the employee is included in Workers Compensation.
SmartPay may charge a fee for the data transaction. In that case the billing will be done through your SmartPay account.
What data syncs?
| Info In Eddy | Sync Direction | Name of Info In SmartPay | Notes |
|---|---|---|---|
| First Name | Eddy to partner | First Name | |
| Last Name | Eddy to partner | Last name | |
| Company Name | Eddy to partner | Company Name | |
| Check Date | Eddy to partner | Check Date | |
| Workers Comp class code | Eddy to partner | Class code | |
| FEIN | Eddy to partner | FEIN | |
| Pay Period start date | Eddy to partner | Payroll Period start date | |
| Pay Period end date | Eddy to partner | Payroll Period end date | |
| Employee ID | Eddy to partner | Employee number | |
| Work location (state) | Eddy to partner | Work in State | |
| Employee wages subject to workers comp | Eddy to partner | Subject Wages | |
| Employee wages not subject to workers comp | Eddy to partner | Excluded Wages |
About SmartPay
SmartPay has grown into the leading Pay-as-You-Go solution in the market today. They work with 75+ providers, 3,000+ agents, 350+ payroll providers, and 30,000+ policyholders, as well as self-insured groups and premium finance companies. SmartPay consistently offers best-in-class technology, flexible processes, hands-on support for all stakeholders, and a thorough understanding of what it means to be your partner.
