As a gig worker, you embrace freedom and flexibility in when, where and how you work. If you’re like a lot of independent workers though, you probably feel some level of stress without the safety net (AKA benefits) that traditional workers enjoy. For you, benefits like medical, dental, and vision might not feel accessible or affordable.
While that was true in the past, times have changed. It’s now easier than ever to find, and keep, affordable benefits that aren’t tied to a traditional 9-to-5 job. These benefits, sometimes referred to as portable benefits, because you can keep them even if you switch gigs, can help you build financial stability, provide peace of mind, and allow you to keep hustling.
Navigating benefits without a full-time employer
For traditional employees, benefits are an important element considered when accepting or negotiating an employment offer and are usually discussed during the interview process or even included in the job listing.
That’s because having access to benefits is super valuable. They offer stability, safety, and security to the employees who have them. Life happens, and these benefits are an important part of the foundation required to handle both expected and unexpected situations.
But as a gig worker, you have to build a DIY benefits package. If the thought of sifting through plans on your own or figuring out your taxes yourself keep you up at night, you’re not alone.
Luckily, there are ways you can get many of the benefits employers provide—and you don’t have to give up your freelance lifestyle to get them.
Getting insurance without a full-time employer
As the gig economy grows, so do the tools available to help you find and enroll in the insurance you need. Maybe you don’t have a full-time employer to vet health plans or help you pay for your coverage, but you have resources that can help you do both. Companies like Stride make it easy to compare health plans in your area and help determine whether you qualify for financial aid to help lower the cost of the plan you choose.
They can also help you find other kinds of insurance, such as low-cost dental, vision, and life insurance, so check out your options.
Paying taxes without a full-time employer
Traditionally employed workers get to do less math when it comes to their taxes. That’s because their employers automatically take taxes out of their paychecks each payday. And if traditional workers have any on-the-job expenses, they submit an expense report and let the accounting department take it from there.
Since you don’t have a payroll or accounting department of your own, you have to figure out what you owe in taxes. And you may have to make regular tax payments throughout the year, instead of waiting until April to settle up.
The good news is, tax platforms like H&R Block can help you understand your unique tax situation, make quarterly tax payments and file your taxes each spring. Even better, there are apps like Stride that help you track your expenses throughout the year, so you can claim them when you file your taxes and lower your total tax bill.
Have your benefits—and keep your gig life too.
As a gig worker, you sometimes have to get creative when it comes to your finances. But that doesn’t mean you can’t get the benefits you need. You have resources available that make it a little less complicated to navigate the world of independent work, so you can enjoy the flexible lifestyle, freedom and independence with more security and less stress.
