The reasons for implementing flexible benefit plans vary, from providing employees with more choice, to long-term cost containment, to changing the very culture of an organization. Whatever the reason, certain elements are common to a successful flexible benefit plan. The plan must be right for the organization. Good plan design must consider the business direction and goals of the company, and align accordingly. A well-designed plan will be part of an overall compensation scheme to attract, motivate and retain the right kind of employees for the future.
Communications are vital.
Employees must fully understand their new benefit plan, and the reasons for having it. They must be able to make intelligent choices that will affect their coverage, their tax status, and their family's security. For a plan to be effective, it must be well managed. Intelligent, integrated processes for enrolment and claims processing are vital to ensure that the benefits of a flex plan are achieved without creating a bureaucratic nightmare. Pacific Blue Cross Services Pacific Blue Cross provides services to many large employers with flexible benefit plans.