Benefits Gap Filler

Build your own benefits package as a self-employed worker

Benefits-Equivalent Salary
Compare your freelance income to a traditional employee salary with benefits

Your Gross Income

$94,260

$45/hr equivalent

After Self-Funded Benefits

$65,040

$31/hr true rate

Equivalent W-2 Salary

$74,160

+$20,100 in benefits

Traditional Employee Benefits Value

Health Insurance

$7,200

401(k) Match

$6,000

Paid Time Off

$5,800

Disability

$800

Life Insurance

$300

Health Insurance (Silver Plan)
Marketplace Silver plan with $2,500 deductible. Good balance of premium vs. coverage for self-employed.
High Priority

Monthly Cost

$485

Annual Cost

$5,820

Solo 401(k) Contribution
Maximize retirement savings with employee ($23,000) + employer contributions (25% of net). Tax-deferred growth.
High Priority

Monthly Cost

$1500

Annual Cost

$18,000

Est. Tax Savings

$6,000

Short-Term Disability Insurance
Replaces 60% of income if unable to work. Critical for freelancers with no employer coverage.
Medium

Monthly Cost

$125

Annual Cost

$1,500

Term Life Insurance (20-year)
$500,000 coverage. Affordable protection for dependents.
Low

Monthly Cost

$35

Annual Cost

$420

Paid Time Off Fund
Set aside equivalent of 2 weeks vacation annually. Build your own PTO benefit.
Medium

Monthly Cost

$290

Annual Cost

$3,480

Your Benefits Budget
Recommended monthly allocation for self-funded benefits
Health Insurance (Silver Plan)
$485/mo
Solo 401(k) Contribution
$1500/mo
Short-Term Disability Insurance
$125/mo
Term Life Insurance (20-year)
$35/mo
Paid Time Off Fund
$290/mo
Total Monthly Benefits$2,435

This equals $29,220 annually, or 31% of your gross income.

Health Insurance Navigator
Find the right marketplace plan for your income level
Open Enrollment

Bronze Plan

60/40

$285/mo

$7,500 deductible

  • Lowest premium
  • Highest out-of-pocket

Silver Plan

Recommended

$485/mo

$2,500 deductible

  • Best value
  • Moderate coverage

Gold Plan

80/20

$685/mo

$1,000 deductible

  • Best coverage
  • Highest premium

Potential Premium Tax Credit

Based on your income of $94,260, you may qualify for subsidies that reduce your monthly premium.

Retirement Savings Options
Tax-advantaged accounts available to self-employed workers

Solo 401(k)

Best for High Earners

Contribute as both employee and employer

Employee contribution$23,000
Employer contribution (25%)~$23,500
Max annual$69,000

SEP-IRA

Simple Setup

Easy to set up and maintain

Max contribution25% of net
Annual limit$69,000
DeadlineTax filing date