OKC Medical Staffing | Understanding Your Travel Nurse Pay Package Part 1

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You are listening to Trinity employments A-player matchmaker podcast, starring your host and the co-founder of Trinity employment specialists, Cory Minter. Hello,

And welcome back to the A-player matchmakers, where we’re always trying to find different ways to add value to job seekers and employers and employees. And I’m here with the great, great Marcel who is our expert in travel nursing. And that is what we’re going to spend a lot of our time with on this podcast and many more to follow, um, because this is now becoming such a big part of our business, thanks to Marcel. And we’re so excited about it. And, um, we’re, we’re just getting started. In fact, we, we, we just got some action going this week, so we’re really the best OKC Medical Staffing, really excited about it. But Darcel has over 20 years of experience in staffing for travel nurses. And we are going to ask her to share some of that experience with us today. So I’m going to tee her up in a big way, but as if you’ve listened to our podcast very often, then you will you’ll know that we always start out with stats.

So let’s, let’s start out with some stats that just get our brain churning on the topic. Um, employment of registered nurses is projected to grow much faster than the average growth for almost every occupation in the entire United States. According to the Bureau of labor statistics, um, registered nurses are expected to grow by 15% from 2016 to 2026. Why will that leads me to my next, uh, stat, according to the department of health and human services, they are very concerned about one really, really big problem in the United States has the, almost no one other than maybe me and Marcel are even eyeballing. And that is that according to department of health and human services, which I just said 20 million people gained insurance since the affordable care act was implemented. And since the baby boomers there are there going to be 1.1 million. That’s how many jobs are expected to be created by 2022, according to the American nurses association, that’s very good news for travel nurses.

So if you aren’t sure where or how to take an assignment, um, we’re going to be talking about a lot of these issues. Um, last stat that I would like to, that I would like to state comes from Forbes. It’s a Forbes article that I read and it says Fresno offers the best wages in standard of living costs with our great OKC Medical Staffing experience. According to the article, a nurse can expect a travel nurse can expect to earn $81,000 a year as a minimum. Um, that’s also really good news, um, because there’s also a lot of great benefits that come with travel nursing is that high or low would, what is, where is that salary? Is that in line with what you think

That is totally in line? Um, 81,000 would be your nurse one, which sometimes med search, but again, she can make more with overtime and we’ll get into that later as well.

Well, what we want to try to do in the title of this podcast is understanding your travel nurse pay package. I should have mentioned that at the very beginning of this podcast, but I was just so excited to be talking with Darcel. I skipped right over it. Um, um, you know, travel nurses have a complete different pay package that go, that happens. And, uh, me as a business owner, you know, Darcel began explaining this to me. We knew about this, but we really didn’t know exactly how to set it up. And she, she is just an expert at it. So I knew that travel nurses were paid fairly well. And they were bombarded with all sorts of different advertising, pay packages, pay scales. You know, we had certain, uh, people throughout things like, you know, um, you’re going to get all of your housing paid for which, which is, which is true, but we’re going to provide a house for you. We’re going to give you this $20,000 sign-on bonus. Some of these things were a little bit outrageous.

Well, they really did that in the early days when treble nursing first started. Yeah. Explain it’s playing this real quick. Well, because when travel nursing first started, they would pay them, uh, the housing for a better level of OKC Medical Staffing. And then what happened? A little things happen with nurses who just didn’t probably take care of things. So the agencies have eliminated. That’s why, that’s why we can give a three month contract for a nurse to stay in a place. We, the agency pays for it. If something happened, the nurse don’t pay for the damages, the agency has sued. So what we in turn did was give the nurse the money, just paying for the housing.

Okay. Got it. Well, the most alluring advertisement, I think that is legitimate that travel nursing agencies get to use to get people in the door is the infamous tax advantage plan. Um, this can also be referred to per diem, stipends reimbursement it’s combination of all three. What this basically means is that if you are traveling away from your home for work, there are certain expenses that can be tax deductible and certain reimbursements that are non-taxable. Um, you need to know the different kinds Darcell. Can, can you educate us a little bit about this please? Because what happens?

Uh, say for instance, I talked to a nurse who’s never traveled before. Nurses are very interested because they’re actually working at their hospital with travel nurses. That’s a given do you know? So they hear about it. They hear about the money. And sometime that caused a little friction because they realized that travel nurse is making more money than they’re making hourly wages with our OKC Medical Staffing.

And have you noticed this, that when you meet someone new, especially someone that might be making a little bit more money than you, there’s a little bit of braggadocious thing that’s going on. So you’re, they’re probably not hearing the negatives. Now. There are a ton of positives, like we’re so excited about the positives. However, um, it could be skewed a little bit based on what you’re hearing

A little bit, but it’s very minute because this is something nurses want to do. If you take a look at the overall, what a hospital was paying a nurse, they work a lot of hours there. They’re not benefit from it. They don’t make the money. So what happens is the hospitals realize let’s bring in travel nurses for the top OKC Medical Staffing. We could have them on contract, but 13 week intervals, if we want to extend them, we can do that. So we want to go into that as well, but we want to really focus on the pay package for a travel nurse.

Right, right. Which, which we’re going to get into this, but what, what are some examples of like nontaxable travel nurse pay to work with our great OKC Medical Staffing? Like what I’m sure there are probably a lot of nurses that are really across the street over here at St. Francis going, what is this? I don’t, I don’t even like my taxes. I don’t like my CPA. I don’t even want a CPA. Right? Correct. Am I going to have to have a CPA?

I had a conversation with the nurses today, just to let you know about that. She said, well, I worked with a nurse, who’s a traveler. I thought about it. But she said, when I went to go do my taxes, the IRS was like, this is not travel money, this, so they wanted to tax her on it. She did, but that’s the fault of the nurse. Because when you do your taxes, we will give you a tax deductible form stating that you’re on an assignment that funds are tax free. And you turn that into your tax professional.

What are some specific things that nurses get to write off that might surprise the average?

Well, in essence, they only gonna pay taxes on their hourly rate and the law, the government says we could keep a nurse, even though they’re qualified to make anywhere from 50 to $40 an hour, we got to pay them $20 an hour. In some cases, according to the bill rate from the facility, we could adjust that to 18. So they’re pay taxes only on that. The advantages we give them housing, stipends and meals and incidentals, which M and I’s. And so they make the bulk of their money, which will equal and make a point of this. This actually the amount you get on your housing and the MNI actually equals your paycheck that you get every two weeks being a nurse.

Okay. Now him and I, for someone who knows nothing, does that stand from meals and it’s an adult.

Absolutely. For anything you can have a flat, something happened. Yeah.

Okay. And then your notes here say that, uh, there’s, there’s $250 per week for meals and incidentals or MNI that’s non-taxable. Is that, is that right?

That is accurate. That’s. According to each state is different. We have to go according to the GSA, the government to set those boundaries. And so we have to do that. We’d go take that. And that’s what we pay the nurse. Okay.

Got it that OKC Medical Staffing is here for you. And then you have here in your notes also, you get $2,000 a month for lodging. That’s also, non-taxable

Correct. That is correct. Again, based on state where they pick up the travel contract could be more, could be less.

Got it. So, and then later on, um, it’s going to be in part two, but we’re also going to talk about, um, how it’s, how the government wants you to make sure that you have a house correct here, or a main place that you go to. Um, and, and so we’re going to try to talk about that. And I also need to disclaim here in the middle of this. I should have done this again. I forgot the title. Darcel, I forgot the title, which is really important. It’s very important, especially for this topic. Okay. I also forgot a disclaimer that we are not accountant status. Correct. And so you need to make sure and verify all of this with your accountant. So everything has a legal side. That is my legal side. I actually got it in before the end. You

Have to do it. They have to be done. Yes.

Okay. So, um, and so we’ll talk about that here in a little bit, uh, about the lodging and how you also need to have a main house. The last thing that we have here that you have here is $500 for a travel reimbursement that is nontaxable. What, what does this,

That depends again, on the bill rate of the facility. If the facility allowed the agency to have a higher bill rate where we could help the nurse in travel, but typically I’m gonna be honest with a better level of OKC Medical Staffing. It used to be done, but the hospitals have lowered their bill rates. Bill rates used to be much higher than they are now. Right. So a lot of things have went by the wayside. So that’s why we give them more money in their housing and him and I got, yeah,

Got it. Got it. So I’m going to, uh, cut this the end of this podcast. We’re going to wrap up with a segment two for this, just to make sure that we keep inside the 10 minute timeframe for, uh, for our listeners. Okay. So, um, please go ahead. If you were interested in listening to the rest of this, go to the next, uh, podcast on our, on our podcast page, and you’ll see that here with our great OKC Medical Staffing, if Trinity can help you in any way, shape or form with travel nursing, we would love to be a resource for you. Darcell is just a plethora of knowledge. We would love to help you. Even if you don’t come to work for us, we, we just want to help people

Get where God wants them. And so we’re very interested in that. Um, so please give us call any time, um, or you can go check out our website, Trinity employment.com.