This common con about travelers not having benefits is just plain untrue. All traveling companies offer benefits. Each company is slightly different, but that is why it is important to screen every company you are interested in before signing on.
Insurance: Contrary to what you may have heard or assumed, every company offers access to Health, Dental, and Vision insurance. They also offer life insurance, professional liability, short-term disability, 529 plans, pet insurance and many more. It’s a normal job, just like any other full time job you would get elsewhere. Just make sure to ask questions just like you would any other job interview.
Many of these companies offer insurance immediately upon start, and some have a certain mark before your insurance kicks in. Usually this is around 30 days. Either way, you will have coverage if you need it.
Side Note: Always check when your insurance expires.
Every company’s insurance expires around different dates. Some give you 3 weeks of coverage following your last day. While others give you the remaining days left in the month in which your last day of the contract is. Which can be dangerous if your last day of work is the last day of the month. Just make sure you have a plan in place to maintain coverage between your assignments. We should always be planning for the worst. Nothing sets back financial independence more than an unexpected medical expense.
401k: Most companies offer a 401k but again this should be something you ask about when exploring your options of traveling companies. Most offer some matching as well after a certain number of hours worked for that company. My current company offers up to a 5% match which is among the top matches of companies I have worked for.
Vacation Bonus: I currently have not had much experience with this benefit but I know of others who have. From what I know, there are some companies who offer an paid trip to an all inclusive resort in a destination location such as the Caribbean to reward loyalty to one company. Again, there are certain hour and time requirements to this as well.
Loyalty Bonus: Along the same lines, other companies offer cash bonuses for loyalty. These tend to require long term commitments to truly maximize the cash but they are out there. As a traveler, this long term commitment can be difficult but if you are up for it, the bonuses can be large.
Continuing Ed: Many companies offer access to specific online continuing education credits. These are free but the classes are sometimes limited. Other times, they will allow you to build CE money into each contract. However, remember that the money all comes from somewhere so if you go this route it likely will just be money coming out of your paycheck.
Discounts: Many companies also offer discounts for common purchases of healthcare professionals such as phone plans, hotels, medical clothing and other various companies. It’s not much but when the goal is debt repayment, wealth accumulation, and financial independence, every bit helps.
Education Reimbursement: Although not applicable for my route, but often times there are many healthcare professionals that transfer to a different field of healthcare, or advance there current degree. For example going from masters in PT to a doctorate, or changing from a medical tech to an RN. Many companies will help cover up to a certain amount of money if you are working for the traveling company while you are going to school online. The most I have seen so far for this benefit is up to $12,000 dollars. Which can make for a nice benefit.
Referral Bonuses: Most companies offer a bonus for getting friends or colleagues to sign on with a company. So this can be quick cash just for spreading the word!
Other Benefits: Paid vaccinations, direct deposit, along with others.
Conclusion
Contrary to the rumors you may have heard, traveling work is just like any other type of work. You have benefits! For me, many of these benefits were better than my benefits when I worked a full time job. As with any job, it’s important to understand your benefits offered to you before you sign your contract. So make sure to ask plenty of questions.
If you have any specific questions for me about travelers benefits or want to know more about my current company, feel free to reach out here.
