Results are directly related to employee participation in the plan. Proper communication and employee understanding of the plan is critical. Here's how the employer saves. Because employees understand the benefits available to them and participate. A Flexible Benefit Plan allows employers to diversify their benefits without increasing costs.
Employees can buy their own benefits using tax-free dollars.
Using a Flexible Benefit Plan employers can allocate a fixed benefit dollar amount for each employee for the plan year. A benefit budget is clearly established. The employee can then spend these dollars on the benefit choices offered during open enrollment. This eliminates budget surprises and worries throughout the year.