A cafeteria plan is an employee benefit plan that allows staff to choose from a variety of pre-tax benefits. You can contribute a portion of your gross income before any taxes are calculated and deducted. Plans normally include options such as insurance benefits and benefits that help with vari...
Define Cafeteria Plans. Cafeteria Plans synonyms, Cafeteria Plans pronunciation, Cafeteria Plans translation, English dictionary definition of Cafeteria Plans. n. a fringe-benefit plan under which employees may choose from among various benefits those th
However, health insurance doesn’t cover the entirety of medical costs. In a health insurance plan, the consumer and the insurance provider split the costs up to a certain point, after which the insurer must cover the full cost. One of the features of a health insurance plan involving cost-...
Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan. life insurance business means the business of providing or undertaking to provide policy benefits under life policies; Health benefits plan means a benefits plan which pays or Long-term...
Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability. Active Employees means all employees employed on the Closi...
A Section 125 premium-only plan (POP) is a cafeteria plan that allows employees to pay their health insurance premiums with tax-free dollars. As the name implies, these premiums are theonlyexpense that the funds can cover. The premiums can be for employer-sponsored insurance plans or individua...
Section 125 is also known as a cafeteria plan. Employees who participate in a Section 125 plan have the option to prepay insurance premiums and any further expenses that can later be used for certain child care and qualified medical costs. ...
Ineligible Expenses: Life Insurance Eligible Participants Definition Of Employees Common Law Employees Former Employees: Retirees Former Employees: Severance Agreements Partners, Independent Contractors, 2% Or More Owners Leased Employees Beneficiaries of Employees Other Relationships Accident And Health Coverage ...
1. An employee benefit in which an employee may contribute so much of his/herpretax incomeinto a special account that may be used for a broad range of purposes. One may use thefundsin a cafeteria plan for matters such asmedical expenses,life insurancepremiums, or other things. This allows...