Flexible benefits - objectives and health care options

Article Abstract:

Flexible benefit or cafeteria benefit plans have been established since the 1980s and are already a standard procedure in banking, insurance and health care industries. These plans must conform with prevailing economic conditions and support corporate objectives through time. To minimize costs in implementing flexible plans, companies must set clear objectives at the beginning before preparing them. They should also decide whether they will have a common plan for all or multiple plans for different units. Likewise, companies must be able to implement the objectives they set for the plan.

Cafeteria benefit plans

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The current state of retiree medical plans

Article Abstract:

A survey of 463 employers was conducted to find out the status of retiree medical plans. Results indicated a trend toward modifying existing plans. The changes generally involved asking retirees to shoulder a bigger share of the cost and imposing more controls over the utilization of the plan. To help trim costs, many of the employers have linked with Medicare. Employer respondents revealed a tendency to base the amount of a company-subsidized medical coverage for retirees on years of stay in the company.

Compensation and benefits, Retirees

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Flexible benefits-beyond health care

Article Abstract:

The flexible benefits program of companies usually deal entirely on the health care elements of the program. However, other benefits areas like life insurance, disability, time off, and flexible spending accounts should also be looked into. A flexible benefits program can add options to the menu without raising company cost. Finally, the trend, nowadays, is the development of a more dynamic benefits program for the welfare of the employees.

Life insurance, Accident and health insurance, Finance, Insurance, Workers, Disability insurance

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