While there are numerous advantages to working as a freelancer, one of the biggest disadvantages is not having certain financial accounts set up for you automatically — most employers give full-time employees a retirement fund, as well as other savings types of accounts. Of course, you can absolutely set these accounts up for yourself as a freelancer, you just have to have the motivation (and knowledge) to get started.
For a lot of self-employed individuals and freelancers, the cost of insurance can feel like a lot, especially since it’s coming directly out of your own pocket. Of course, the cost of not having insurance can be equally as high (if not significantly more). Insurance, whether home, auto, or health, ensures that you’re protected, especially in the case of emergencies and unforeseen disasters.
Maintaining good dental health is on nearly everyone’s list of things they want, which makes having great dental insurance even more important. Although it can still be tricky understanding what your dental insurance covers and which plan to choose, navigating dental insurance is far easier than looking at health insurance and all of the variables that come with it.
When shopping for vision insurance and vision care, you should understand all of the different plans and options available so that you can make the most informed decision. In general, vision care plans make sure that all of your routine vision needs (like eye exams, contact lenses, eyeglasses, etc.) are covered, although not always in full. Additionally, some vision care plans will offer discounts on certain procedures, including LASIK. When choosing a vision care plan, you’ll want to look closely at what the plan will cover and how much of the cost will be covered. Depending on your choice, you’ll pay a standard flat fee for vision services or a percentage of the total cost.
There are a lot of advantages to being a freelancer rather than working full-time for a business. But, one of the main disadvantages is not having the benefits that regular employment provide, specifically health benefits. However, there are plenty of unique options for freelancers who don’t want to give up the lifestyle and freedoms of working for themselves, including health savings accounts, or HSAs.
If you get hurt and are unable to work, disability insurance can make sure that you continue to get the money you need to pay your main expenses. For the self-employed and freelancers, disability insurance can be even more important, as there will be no employer or policies in place to help in case of injury. Thankfully, there are a lot of different ways self-employed individuals can get disability insurance. But, before choosing a plan, it’s a good idea to understand what the different plans entail to make sure that they cover what you need specifically.
One of the main reasons many talented professionals never take freelancing seriously is because they’re worried about benefits. While full-time freelancing can give you a lot of amazing advantages (like the lifestyle you’ve been dreaming out), it rarely can offer you the benefits of a full-time 9-to-5 career. Because of this, a lot of professionals never pursue freelancing because they want the safety and security of career or corporate benefits.
A lot of freelancers and self-employed individuals are unsure about whether or not they really need life insurance. Not only is life insurance an extra monthly cost, but for a lot of young people it can seem unnecessary. Having life insurance, however, should be something that everyone, no matter their age, seriously considers. Not only does the life insurance contract guarantee that a payment is made to beneficiaries after death, but it ensures peace of mind that, if something were to ever happen to you, the people you love most would be cared for.
As a freelancer or someone who is self-employed, finding the right health insurance is key so that you know you are covered when it comes to regular appointments, as well as those unexpected emergencies. But knowing how to find the right health insurance isn’t always easy. In fact, today’s health insurance landscape can feel increasingly overwhelming, mainly because there are so many options to choose from. In order to pick the right health insurance plan, it’s important that you understand how health insurance actually works, what it covers and what it doesn’t, so that you know the money you spend on an insurance plan every month is money well-spent.