What is another word for flexible benefit plans?
Pronunciation: [flˈɛksɪbə͡l bˈɛnɪfˌɪt plˈanz] (IPA) 
Flexible benefit plans, also known as cafeteria plans or flexible spending accounts, allow employees to choose their desired benefits from a list of options. This approach offers an individualized benefits package that fits the employee's unique needs. Other synonyms for flexible benefit plans include flexible compensation plans, flexible benefits programs, and flexible benefits schemes. These initiatives are becoming increasingly popular with employers, as they provide an affordable and employee-friendly way to manage benefits. Flexible benefit plans can include health insurance, dental and vision coverage, retirement benefits, childcare assistance, and more. Offering flexibility in benefits makes for happier employees, which ultimately leads to higher productivity levels and better business outcomes.
