Pay your premium

How to pay

You have a number of options for paying your premium:

Credit card

(Mastercard and VISA only)

Pay your premium now

Direct debit

Call us on 13 44 22 to set up a direct debit to pay your renewal premium instalments or to modify or cancel an existing direct debit arrangement. Download our direct debit service agreement (PDF 0.7MB) for terms and conditions.

BPAY

Refer to your premium notice and tax invoice for BPAY Biller code and Reference details.

 

Remember

Always reference your policy number when making a payment to ensure it is correctly allocated to your policy.

Please do not send remittances to icare when making a payment. Our system will allocate your payment automatically.

Fees and surcharges

Payment options	Fee
BPAY®	$0.00
Direct debit from bank account	$0.00
Direct debit from debit card or credit card (Mastercard and VISA only)	Debit or credit card surcharge
By debit card or credit card via the icare website or over the phone (Mastercard and VISA only)	Debit or credit card surcharge

Applicable debit and credit card surcharge rates are as follows:

Card type	Surcharge
Debit card: Mastercard	0.23%
Debit card: VISA	0.16%
Credit card: Mastercard	0.83%
Credit card: VISA	0.63%

 A service fee inclusive of GST applies to Credit/Debit card payments (Mastercard and VISA only) as detailed in the table above. 

Paying in instalments

You are eligible to pay your renewal premium in monthly instalments if your average performance premium is $1,000 or greater.

Note: Your 'average performance premium' is your base premium, calculated by multiplying your industry classification rate by how much your business pays in wages.

Discounts for premiums paid in full

If you pay your renewal premium in full by the due date you will receive a discount. Please note that your total premium including discounts cannot reduce your premium below the minimum premium amount.

The discount is based on your initial premium payable and will not be adjusted as part of the hindsight premium calculation process, or if wages estimates are adjusted mid-term.

The discount rate is subject to change. For small employers the current discount is 5 per cent. For experience-rated employers the current discount is 3 per cent.

End of period premium adjustments

For experience rated and small policies, if your end of period adjustment is $1,000 or more, you can pay it in six equal monthly instalments.

You will receive a schedule of instalments with your adjustment premium calculation notice.

If you miss an instalment or are having difficulty paying your premium, you should immediately contact icare on 13 44 22 to discuss what payment options are available.

Note: Your end of period premium adjustments cannot be paid using direct debit. This applies even if you have used direct debit to pay your renewal premium instalments.

Late payments

Employers will receive correspondence when late payment fees have been charged according to their communication preference (email/post).

Late payment fees are also itemised on their icare Statement of Account.

The prescribed rate is in accordance with Annexure C of the current Workers Compensation Market Practice and Premium Guidelines (MPPG).

If we need to contact you about an overdue premium one of our service providers listed below may reach out to you on our behalf.

Premium Collection Service Providers include:

• Revenue NSW, the state's revenue management agency (icare's primary collections provider from 1 September 2020).

icare's approved Legal Debt Recovery Services Panel members:

• Craddock Murray Neumann
• Hall & Wilcox
• Turks Legal