Would you let DH do this?

[atm123]

The 2 weeks vacation we already figured in. That is why it would be only 30k instead of 35k extra. He also could work 10 hour days and not end up taking vacation if he wnated to do that. He will be paid hourly, which is a big plus because he often has to work from home so any extra work he would do would be overtime. Retirement, healthcare, and life insurance should not be hard to pay as we are big savers. He can get insurance through the contacting company but it would be $875 per month.

 

[skincarekathy]

When I used to work in the corporate world (I left when dd#1 was born over 14 years ago so it may be different now) one of the things I would do is calculate the fringe benefit rate. The real cost of the labor was not only the salary but the benefits that the employer provides that you mentioned. It was approximately 50%. So an employee making $100K was actually earning $150k when you factor in the benefits they were receiving. Your dh needs to look at what he would be earning as a contractor and see what the comparable salary would be at a corporation less the benefits. Make sense?

The current (non-union) workforce benefit ratio is now about 1.2 for white collar workers. For office, service, blue collar (again non-union) it is in the negative.

In all industries, fringe benefits are on a steep decline.

 

[reporter20]

Depends on what it covers but $875/month for a family (you have a child yes?) is a good price....even with employer subsidy it was more than that at my job.

 

[littlebuffalo]

I was just told by United Healthcare that they no longer cover the cost of a cholesterol screening for women, only for men!! Isn't heart disease the leading cause of death in women? My point is that, not only is health insurance going to cost more each year, but the coverage is now less. More out of pocket expense for all. Thank you Mr. President! BTW, the Obamacare is what my insurance worker called it and continued referring to it that way during all my questioning regarding why so many things that used to be covered or no longer being covered.

Isn't that discrimination? Do you get your insurance through your employer? If yes, is your employer self insured. I have United Healthcare through the employer and the employer is self-insured. My annual physical, cholesterol, blood glucose, mammogram, and colonoscopy are covered 100%.

 

[mrs.melton08]

He needs to find out if he will get a 1099 or a W2, you are sure that he will have payroll taxes taken out? Not sure of the work he is doing, but is it per assignment he is paid (meaning he is paid $/hour for each assignment, or a guaranteed number of hours all the time.

If payroll comes out (and unemployment is then taken care of and he is just techinically not getting benefits...unfortunately many jobs do that now to their regular employees) I think you can do the rest and that sounds a bit better.

 

[mrs.melton08]

When I used to work in the corporate world (I left when dd#1 was born over 14 years ago so it may be different now) one of the things I would do is calculate the fringe benefit rate. The real cost of the labor was not only the salary but the benefits that the employer provides that you mentioned. It was approximately 50%. So an employee making $100K was actually earning $150k when you factor in the benefits they were receiving. Your dh needs to look at what he would be earning as a contractor and see what the comparable salary would be at a corporation less the benefits. Make sense?

That is much different now. I remember when I didn't pay anything for insurance and didn't pay a co-pay...then the first time I had a $5 co-pay, then just a bit for insurance and then more for the co-pay, less coverage, on and on...a lot of companies can not afford benefits like they usedto. My husband works in tabacco, they are definitely recession proof, he got a nice bonus last month and they just had a conference in Orlando for the week where no expense was spared for thousands of employees...but even there there are some small changes over the years. He no longer has sick days, he has 2 PTO days and usedto have 10 sick days, plus 5 days for dependant care just two years ago. Insurance cost has definitely went up on both sides, and pay is going up a lot slower than insurance so that alone will change that percentage.

 

[chgobob33]

The 2 weeks vacation we already figured in. That is why it would be only 30k instead of 35k extra. He also could work 10 hour days and not end up taking vacation if he wnated to do that. He will be paid hourly, which is a big plus because he often has to work from home so any extra work he would do would be overtime. Retirement, healthcare, and life insurance should not be hard to pay as we are big savers. He can get insurance through the contacting company but it would be $875 per month.

One other thing, maybe you have figured it in is that every day the company takes a holiday is a day he can't work and will not be paid that could be as many 10 days a year (or 2 weeks) unless he is pretty sure they will let him work 10 hour days to make up for it.

I have a friend who has contracted for years and works really well for him. Although he goes without health insurance. Most of his assignments have allowed him to make-up the hours he would miss on company holidays