As an independent nurse contractor, nurse practitioner running your own practice, or the owner of a travel nursing agency, you enjoy the freedom working for yourself. Across these three nursing professions, one common denominator holds true: your services help fill the void left by the current nursing shortage, especially in under-served areas where hiring and retaining qualified allied health professionals is difficult.
But running your own nurse practitioner practice, travel nursing agency, or nurse contractor business comes with risks and concerns. For example, the IRS doesn't consider nurses to be independent contractors if they work in healthcare facilities or for travel nursing agencies. Instead, they are employees. That means as a nurse contractor working in these facilities or as the owner of a travel nurse agency that places nurses as contractors, you could be audited and owe back taxes and penalties. For travel nursing agencies, this also means you must provide your nurses with basic employee protection, such as Workers' Compensation benefits and liability coverage.
Nurse contractors are considered self-employed if they work in private homecare. But just as a nurse practitioner who runs their own practice, you would also need to have adequate liability insurance in case an unexpected accident happens while you're performing your services.
Based on these considerations, our licensed insurance agents recommend the following coverages for nursing professionals…