ACC to delay invoicing for COVID-impacted businesses

ACC to delay invoicing for COVID-impacted businesses | Insurance Business

ACC to delay invoicing for COVID-impacted businesses

ACC has been rolling out a series of support measures for levy payers as a result of the economic impact of COVID-19, and the government has also put a temporary halt to any levy increases until 2022.

ACC’s business customer solutions partner Ann Hodgson says that levy collection will still be going ahead despite the pandemic, though she noted that invoicing has already been delayed in two key areas. She says individual clients facing difficulty can also discuss their options on a case-by-case basis, and monthly repayment plans will be available to those who need them.

“In terms of invoicing and levies, that’s legislated and compulsory - however, there’s been quite a lot of work in the background since COVID to support businesses, and we’ve thought about how we can do that from a financial perspective,” Hodgson said.

Read more: ACC levy rates to stay unchanged until 2022

“Where businesses have been facing financial pressures as a result of COVID-19, ACC has been taking practical steps to provide respite and support where we can.”

“As part of that plan to help reduce immediate impact, we’ve delayed invoicing in two areas,” she explained.

“The first is for CoverPlus Extra, and we delayed invoicing there in March. For the rest of business, invoicing would normally be released in July, but we’ve put a hold on that until October where we will review that again.

“That’s all about helping people with their bottom line, and helping them do some financial planning and budgeting for ACC purposes.”

Hodgson noted that the government has also decided to put a hold on changes to ACC levy costs until 2022, a decision announced by then-ACC minister Iain Lees-Galloway in early July. Lees-Galloway also said the government would change the funding targets for levied accounts, to ensure they “reflect the true cost of accidents” and “minimise long-term impacts on levy payers.”

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When it comes to debt, Hodgson says ACC won’t be demanding payment upfront - however, it won’t be putting the debt on hold either.

“Some people already have monthly payment plans set up, but we’ve had a large uptake of people wanting to set up payment plans of across three, six or 10 months, and we’re actively promoting that,” she explained.

“We’re not putting a hold on debt, but we’re thinking of the best way to receive the debt and the best way for a customer to pay it on a case-by-case basis.”

Hodgson encouraged businesses to make use of ACC’s new online platform, MyACC for Business, to manage their accounts as well as those of clients where applicable.