What major consequence must an independent contractor, like a freelance medical transcriptionist, manage for ultimate schedule control?
Forfeiting employer-sponsored benefits such as health insurance, paid time off, and retirement matching.
A critical trade-off associated with achieving the highest levels of schedule control, often seen in independent contractor roles such as a traveling Physical Therapist or a freelance medical transcriptionist, involves compensation structure and benefits. While these arrangements grant the worker ultimate authority over setting their own schedule—when and where they work—they lose the traditional safety net provided by an employer. This means the contractor is solely responsible for securing and funding their own essential benefits package, including health insurance coverage, paid time off for vacations or illness, and matching contributions for retirement savings plans, necessitating careful personal financial planning.
