If you’re a nursing professional on the hunt for a flexible schedule and great pay, chances are you’ve already stumbled upon your fair share of per-diem job opportunities. While there’s plenty of on-demand nursing jobs available, there are key differences in the type of employment that goes with per diem work. The two main options of employment you’ve probably come across are likely the 1099 vs W2 models. But what’s the difference between these two options, and which choice is right for you?
Let’s dig in.
1099 vs W2 Nursing Gigs: What’s the Difference?
There are two employment models under the IRS; the W2 employment model and the 1099 employment model. But to avoid getting too technical, the main difference between W2 and 1099 workers is coverage. W2 workers are employees, while 1099 workers are independent contractors.
So, which one makes more sense for per diem nurses?
There are plenty of reasons why 1099 vs W2 may be more attractive. This article will break down which version may benefit you in the long run.
Different earnings potential
Many 1099 employers boast high-paying wages, which can be a big draw for the per-diem nurse working week to week. However, it is important to remember that 1099 employers don’t cover a percentage of their employee’s taxes as a W2 employer would. So, when tax time rolls around, 1099 workers can find themselves owing money to the government and paying back many of their hard-earned earnings in taxes.
So keep in mind that while W2 gigs may offer slightly lower rates, it is because they are paying taxes at the time of the shift.
Benefits and less risk
Where 1099 employees are contractors, W2 employers consider nurses their employees and have to extend their benefits packages to you. While it depends on the employer, these benefits often include healthcare and dental coverage, life insurance, and disability plans. Frequently, W2 employers also provide matching 401(k) programs, which can help you save for retirement. Finally, and most importantly, W2 employers will cover their employees for malpractice insurance – so if something does go wrong, the liability falls on the employer, not the nurse. So for employees who want a bit less risk, W2 work may be for you.
Flexibility
Historically, working 1099 has provided nursing professionals with the freedom to work when, where, and how they want. And that can be priceless. But with the adoption of recent technologies, healthcare employers like IntelyCare have provided the freedom and flexibility that used to be exclusive to 1099 work, to include W2 work as well.
So, are you ready to transform the way you work and join the future of nursing? Apply today.
With IntelyCare, get the benefits you want and deserve
As a W2 employee, you’ll earn weekly pay that’s 25% higher than average, plus additional benefits that include:
- DailyPay: access your pay when you need it.
- Eligible for Health, Dental and Vision Benefits; including individual and family coverage.
- Eligible for 401k program.
- Unlimited bonus opportunities, and hazard pay where available.
- Overtime and Holiday Pay.
- Access to IntelyPro Champions who are there to help get you through the hiring and credentialing process to your first shift and beyond.
- IntelyCare Swag (scrubs, masks, and more).
- Employer-paid Taxes.
- Workers’ Compensation.
- Retirement Benefits.
- Malpractice Insurance.
- Matching and scheduling tools that allow you to set long-term, contract-type engagements with facilities of your choice.
- In-App Training at your fingertips. Access shift orientations and continuing education training, all from our education platform.
- An Active Online Community. Connect with your peers for support, shared experiences, and advice!