Independent contracting

Does anyone have experience being an indepedent contractor? 
Has anyone worked with Nurse Visions www.nursevisions.com?
Has anyone ever heard of carrying your own workers compensation insurance?  (I dont mean liability insurance) 
Diane

Why would you carry your own workers comp insurance?  Wouldn't this be the same as a short term disability policy?  I carried a short and long term policy for years and should probably start again (especially after 10 weeks off with a broken clavicle!)

I investigated the indep travel contracting quite a bit 3 years ago.  I decided against it for several reasons.  The primary reason it that I wanted a buffer between me and the IRS.  Indep contractors and much more likely to be audited and I don't need that trouble.  Also, it can be very difficult to find a travel job on your own.  I would think that most hospitals/clinics would rather work with an established company and an independent.  It lowers their risk as far as competency/references/liability, etc.  I would like some other opinions on this topic also.  DavidRN, a new member, has written a book on healthcare travel.  Try forwarding your questions to him also.  I am sure he knows the risks and benefits.

How do I get a copy of this book?!  Sound interesting...

1099 does present some challenges...if you have a great CPA then it can be very beneficial...but be prepared to do more work and cover your rear end.

Hello drproffitt,
 
We are currently in the process of getting a link to his book up on the site.  For now, you can connect with him through his profile and ask him how to get a copy of his book.  You can go to his profile here:  DavidRN

He is a wonderful resource and EAGER to share information with Healthcare Travelbook members!  The book is also a great read for anyone in the industry!

Wes,
The workers comp question came up because, in trying to get a better per diem rate at Rutland Regional, they offered that they would pay more if I carried workers comp. But even that rate wasnt enough to entice me, I only wanted 20 hours per week, I cant give up the jobs in Bennington- one is paying me the same as thier offer and  the other $10 more per hour.... and I dont have to drive an hour each way to work!
But it is clear to me now, the comp coverage is on the employer, either a staffing co or the hospital.  
I have spoken with  nursevisions, they are operating with fewer employees who work from home so less overhead, they pay you as a  subcontractor with 1099 wages,  but they are still the matchmaker and get a cut.  I spoke with Mel;  he sounded very nice, I may, some day, give them  a try. 

Diane,  I know we discussed this before and I remain skeptical.

If I were in your shoes, I would get this in writing (company XYZ stating they can and will pay your work comp AND hiring you as 1099).  I have investigated this to the best of my ability and the experts we have consulted have all said that this no-go.  Regardless, I did some reading and found some websites offering more information on this.  I would definitely support you in checking with a CPA, applicable state board/work comp court, etc.    Please see these links:

http://www.workerscompinsider.com/archives/000230.html

http://www.naic.org/documents/committees_c_wctf_naic_iaiabc_ind_contractor_overview.pdf             (see page 2 and 3 of this PDF, though it is LONG)

http://www.labor.vermont.gov/Default.aspx?tabid=1125

Hey David...thanks....gotta check these out

Yes, on the worker's compensation insurance coverage for IC's (personal coverage).  I just "looked" into the need for this in Colorado, and while it is not required, it is highly suggested. If for some reason the IC AKA nurse working was injured/hurt while working, they would have to pay full costs of the injury and be out any lost wages without coverage. For example, lifting and you substain a rotator cuff tear, surgery, PT/OT, recovery time, loss of income for the 6 to 8 weeks minimum after surgical repair, can be very expensive. As explained to me using this example, can you afford perhaps $100,00.00 out of pocket expenses? If you can SUPER, if not then paying for WC is worth the cost.
For a RN in Colorado coverage for WC is $1657.00 per year, $414.25 to start. This rate was quoted to me on 7-16-10. If anyone would like the agent's information I would be glad to share his name and number.

How is having your own work comp insurance different/better then having health and disablity insurance?  It seems to me the latter would be more useful as I am covered even if I am hurt out side of work. 

I just wanted to post that there is a forum for Independent Contractor's and it is hosted by another traveler "Ned" and it is quite indepth. I am not doing the IC thing but consider it strongly as I don't trust the majority of companies out there... they are too quick to shovel you a mouth full and then sue you when you can't make it through or the hospital cancel's, which we know happens all too often.. .

http://forums.delphiforums.com/ICNurse/start

rntraveler,
Thanks for sharing IC link.  There is great info provided on it.