Working as a 1099 gives you many options as CRNA. From where and how you wish to practice, to if you wish to be on call or not, to deciding your hours and schedule. Equally, it also comes with additional responsibilities like having your own insurance, tracking expenses, paying the IRS quarterly, and maintaining or applying for new & existing licenses.
Planning for maternity leave…
As a 1099 it’s something only you and your spouse can plan for. Since you are self-employed, there aren’t any employer benefits which means that both the amount of time-off as well as your financial obligations are completely dependent upon you.
As for us…
We opted to save money similarly to our emergency fund instead of purchasing short-term disability insurance. This fund will cover medical expenses throughout pregnancy, delivery, and a 6 month maternity leave.
We do however have a long term disability plan.
Since we are both self-employed we wanted to have health insurance in case the unimaginable happened. This lead us to our decision to become members of Christian Health Ministries or Medi-Share to participate in a Health Share Plan that works similarly to health insurance, but members pool together and share the cost of major medical expenses. Additionally, we purchased a secondary insurance option that includes preventative care. We also have a third insurance which is considered an emergency insurance which bridges the gap to our high deductible with Medishare. This insurance covers catastrophic events like ER visits, cancer, or heart attacks.
It can be cumbersome and we are still figuring out the process, but we do know we pay approximately $400 a month which is cheaper than Cobra or other marketplace plans. Even though we are both healthy, we like having the financial safety net.
Others who are 1099’ers, what do you do for insurance?