W2 VS 1099? Please help me decide?

I've been offered a temp position (1 year contract) with a company and given the choice w2 for $55 per hour or 1099 for $65 per hour in Houston, Texas. I know little about economics and no time to consult an accountant. I know that W2 will enable the company to withhold certain taxes, expense fees and insurance requirements. I have to shop around for medical insurance for myself, daughter and wife as the insurance included in the W2 is meager, at best. I'm leaning towards the 1099 but I've never dealt with it. We don't pay state tax here in Texas. Any advice will be greatly appreciated.