Flexible Benefits Plan

also known as a "cafeteria plan," is an employee benefit program that allows employees to choose from a menu of different benefits options. Typically, employees are given a set amount of money to spend on benefits, and they can allocate that money among various options, such as health insurance, dental insurance, life insurance, retirement savings plans, and other benefits. The idea behind a flexible benefits plan is to allow employees to choose the benefits that best fit their individual needs and preferences.