A Flexi Benefit Plan is an employer-offered program allowing employees to customize their benefits package, selecting options like health insurance or retirement contributions within a set budget.
- What is a flexi benefit plan?
Answer: It is a program letting employees customize benefits within a budget. - What are examples of flexi benefits?
Answer: Examples include health plans, dental coverage, and retirement savings. - What are the benefits for employees?
Answer: It provides tailored choices and tax advantages. - How is it administered?
Answer: It is managed through HR or a third-party benefits provider. - What are the challenges?
Answer: Challenges include complexity and cost management.
