New Traveler ?'s

[Coathanger838]

My main questions revolve around a tax home and medical insurance? Medical insurance being my biggest concern with traveling. I don't have any medical conditions, but don't want to ever get into a bind. I am single and wondering best and safest route for health insurance? I talked to a traveler and he carries his own for about $200/month because he jumps around agencies a lot and takes a little time between assignments to do different things. I think while on assignment, the travel companies reimburse him. What do you guys recommend for someone without dependents?

Tax home? I have read the 3 stipulations for qualifying as a tax home. Can I use my parents address if I pay rent (reasonable), have a room there with my stuff, and spend time there between assignments? Note, if my parents were to take my monthly rent and invest it for me for a later date, would this be a reasonable idea? I understand I should talk to a tax professional, but does this seem plausible in order to qualify for the tax home benefit?

Thank you for the comments,

Daryl

[NedRN]

Do you have health insurance now? Compare that insurance to that available in your state on the healthcare exchange (Obamacare), and that offered by the agencies on your short list. You can COBRA your current insurance for up to 18 months. Your primary consideration should be covered providers in places you are likely to take assignments.

Your tax home idea is sound enough, but any deal for your parents to "give" you money later related to rent is probably tax evasion. You certainly don't want to put it in writing. They are allowed to give you money for no reason though, I believe the current limit is $20,000 a year (amounts greater than that are subject to income tax by the recipient). Might even be a good idea for estate planning depending on how old they are and their plans for the future.

[Coathanger838]

Thanks Ned. I currently have health insurance now with the hospital in which I'm employed. I intended to look into Cobra and will also check out Obamacare. Thanks again for the input Ned.

Daryl

[NedRN]

I forgot to mention that if you pay your parents rent, it is subject to income tax to them. It doesn't affect you directly, but if you get audited for any reason, the IRS certainly may want to audit your parents as well to see if they have been properly declaring your rent as income.