Pay your premium
Find out when and how to pay your workers compensation insurance premium.
How to pay
You have a number of options for paying your premium:Credit card
(Mastercard and VISA only)
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
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% |
Paying in instalments
We are giving customers the option to make their renewal premium payments in monthly instalments. You are eligible to pay your renewal premium in monthly instalments if your average performance premium is $1,000 or greater (previously $5,000).
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 amount of $175.
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
If your end of period adjustment is $1,000 or more, you can pay it in three 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
Customers 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).
icares approved Legal Debt Recovery Services Panel members (effective from 1 January 2022):
- Craddock Murray Neumann
- Hall & Wilcox
- Turks Legal
- Woods & Day Pty Ltd.
