Insurance for Translators - To Have or Not To Have?

The cost of medical insurance is a factor of self-employment no one can afford to overlook. Even for a young, unmarried male with an exemplary medical history like myself, medical insurance can cost hundreds of dollars a month, depending on what kind of coverage you want. If you are older or have children, then the costs increase more. When considering the free-lance path, consider these kinds of long-term costs. A translator who is married with children will find the cost of medical and dental coverage a far greater burden than someone in my position. Moreover, such translators might also want accident or life insurance, to protect their families. This will increase the red side considerably, especially in the face of current skyrocketing premiums. Such translators might do well to find in-house work or other work where the employer picks up part or all of the insurance tab. Although 25% of your medical insurance costs were deductible on the 1993 federal tax return, this could go down to 0% in the near future. When you consider that it was 50% only a few years ago, you can see that the government is trying to get the most out of its self-employed citizens.