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Independent Contractor Insurance

Being an independent contractor doesn’t mean not having access to any insurance plans.

More people are choosing freelance or gig work than ever before - more than 57 million people now freelancing at least part-time¹. Working as an independent contractor may mean not having access to your contracted company's health, dental and vision insurance plans. Whether you are an independent contractor, self-employed, or freelance— individual dental insurance can help you afford to keep your mouth and teeth healthy with multiple plans to fit your needs and budget. And, as has been widely reported, your mouth is the gateway to your body - an unhealthy mouth leads to an unhealthy body.

what is an independent contractor

What is an independent contractor?

Generally, a person who performs a service or does work for a person or business but is not an employee of that person or business, nor is not employed directly by that person may be considered an independent contractor, or an IC.



Independent contractors typically control when they work, for whom they work, where they work and are in business for themselves.

Different categories of independent contractors


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Freelancers

Pays taxes² on earned income.

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Self-employed

Pays taxes on earned income.

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Vendors who provide services

Pays taxes on earned income.

IC’s may be paid similar or higher rates to what an employee would make. But the company hiring the IC doesn’t have to pay payroll tax for that person and that person is not protected by the hiring company’s Worker’s Compensation policy, though they may take out their own policy. IC’s are usually contracted for a temporary job or assignment with a fixed start and end point.

Unemployment dental insurance options

Unemployment dental insurance options

Whether you work for yourself or are no longer working, you may find reliable coverage for you and your family. You may purchase individual dental insurance from a dental insurance company online or over the phone. Limited options are also available on healthcare.gov or your state’s Affordable Care Act marketplace.

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Cares Act and independent contractor unemployment benefits

Cares Act and independent contractor unemployment benefits

Due to the ongoing economic hardships caused by the COVID-19 pandemic, the federal government extended relief to self-employed people and independent contractors through the Cares Act. Under the Cares Act, individuals who are freelancers or independent contractors may file a claim for unemployment benefits using their 1099s or federal tax returns as proof of income.

Is an independent contractor self-employed?

Is an independent contractor self-employed

All independent contractors are self-employed. The terms “self-employed” and “independent contractor mean the same thing.


Self-employed

All people who do not work directly for an employer in a traditional employer and employee relationship.³ For example, a lawyer who works on retainer with no fixed end date.


Independent contractor

Someone who performs a task or renders a service that is designed to be of short duration, like on a project basis. Merchants are also considered to be independent contractors even though they are selling goods because of the short-term nature of a sale. As an example, a web designer hired by a company to build a website by a certain date.


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Independent contractor vs. employee

Independent contractor vs employee

There’s been a lot of attention paid to the differences between an independent contractor and employee by several state governments lately because of the huge increase in the amount of people who are working gig jobs or working as freelancers. The following table illustrates some of the key differences between independent contractors and employees.

Item
Independent contractor
Employee
Employment laws
Largely not covered
Covered by federal and state employment and labor laws
Tax reporting
Typically, payments of $600 or more are reported on a 1099. No federal, state or local tax is withheld.
Compensation is reported on a W-2. Federal, state, and local income tax and FICA taxes are generally withheld.
Payment rate
Hourly, daily, weekly, monthlyor contract price
Hourly rate or salary
Payment schedule
According to terms of the contract
Typically weekly or bi-weekly pay periods
Freedom
Greater freedom to set your own hours, place of work, nature of work, and for whom you work
N/A
Insurance
Purchased independently
May be provided by company

Often an employer will offer discounted health care rates for the employee. However, some group plans may have high premiums and low coverage amounts based on the general health of the employees and the size of the company. If the company you work for is small, the premiums for dental care may not be affordable. Dental coverage may be more affordable through a private insurer like Guardian Direct. Private dental insurance, like the insurance plans offered through Guardian Direct, give both employees and independent contractors access to a nationwide network of dentists so that they can choose the best dentist for their needs.

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Independent contractor advice and insights

If you’re new to working at home or you have become a freelancer for the first time, we have the resources you need to help you be successful.

Self-employed guide to individual dental and vision insurance



Five tips to help you be productive when working from home 

How to protect your vision as a freelancer

Why freelancers may need supplemental insurance coverage

7 things to consider when working for yourself


1. https://www.forbes.com/sites/elainepofeldt/2019/10/05/full-time-freelancing-lures-more-americans/?sh=8b5431072599(last accessed2019 Oct)

2. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, investment or medical advice. Although the information has been gathered from sources believed reliable, please note that individual situations can vary, therefore the information should be relied upon when coordinated with individual professional advice.

3. https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-defined(last accessed 2020 Dec)

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