What does Flexible Benefit Plan mean? Read on to discover the definition & meaning of the term Flexible Benefit Plan - to help you better understand the language used in insurance policies.
Flexible Benefit Plan
A flexible benefit plan is a benefit program that allows employees to choose from a range of benefits, such as life insurance, retirement plans, vacations, child care, and cash. Typically, the program requires a core set of benefits, but it gives employees the opportunity to allocate the remaining benefit dollars however they wish.
We hope the you have a better understanding of the meaning of Flexible Benefit Plan.