For registered nurses and allied health professionals considering a traveling position, we’re here to walk you through all the details. Our team will be your guide and your advocate in your new position. It’s our goal to ensure the travel lifestyle is easy and enjoyable for new healthcare travelers.
Pay Packages for New Healthcare Travelers
Pay structures in the travel nursing and allied health industry can differ quite a bit from full-time, salary-based nursing. Traditional, salary-based staff nurses in medical practices or healthcare facilities earn a set salary based on their education and experience. However, many factors contribute to the compensation package for nurse travelers and allied health travelers.
New healthcare travelers often have the opportunity to earn more from their travel assignments than in a permanent position. Hourly wages, non-taxed stipends and travel reimbursements may be part of your pay package. Travel healthcare providers often enjoy significant financial benefits from the non-taxed portion of their pay.
TinkBird will help you understand all aspects of the compensation package, so you can compare it with a permanent position or another travel compensation package.
Components of a Compensation Package
Travel healthcare travelers typically receive a pay package made up of two parts: taxable hourly pay and non-taxed reimbursements (referred to as stipends, subsidies, per diems or allowances). Their hourly rate is a combination of the two, otherwise known as the hourly equivalent.
Taxable Income
Travel providers receive taxable wages in the form of hourly pay. Similar to a permanent staff position, this portion of income is subject to income tax, social security contributions and other withholdings. Sometimes, your taxable hourly rate may seem low, but when factoring in other types of compensation, the total pay package can be very attractive.
Non-Taxable Per Diems
In travel healthcare, the IRS considers expenses such as housing and meals to be non-taxable reimbursements if you are deemed eligible. Stipends are intended to cover duplicated living expenses and, therefore, don’t need to be reported as taxable income. The General Services Administration sets per diem allowances.
Benefits
Since traveling healthcare providers are not permanent employees of the hospital or medical facility, they don’t receive traditional benefits from the facility. However, TinkBird Healthcare Staffing covers our providers with generous benefits. We offer medical, dental and vision insurance and disability coverage.
Additional Financial Considerations
Expenses for relocation for a travel assignment can vary, depending on how far the provider is traveling. Your move could be as close as 60 miles from your home base or all the way across the United States. In many cases, the hospital or medical practice will offer stipends to offset travel costs.
Travel nursing and allied health traveling positions require certain licenses and certifications, which can be costly to obtain. Our nurse staffing agency can assist our new healthcare travelers in determining the licenses needed. In many cases, our nurses can qualify for a multi-state license.
