The Cafeteria Plan

Benefits are a big deal when trying to decide what company you want to work for, salary is the most important benefit but you should consider other benefits also. Some companies have a benefits package called the cafeteria plan, this plan allows employees to pick from a group of benefits such as, medical, accident, disability, vision, dental and group term life insurance. There are advantages and disadvantages of a cafeteria plan for both the employer …showed first 75 words of 568 total…

…showed last 75 words of 568 total…more qualified nontaxable benefits. Cafeteria plans give employees the freedom to construct their own benefits program to fit individual or family circumstances. Reason to consider cafeteria plans include: They give employees choices from among a wide variety of nontaxable employee's benefits. Employees can choose or reject benefits as needed. As a result, resources are better used. They give quality employees incentive to stay. They give the employer a positive differentiating factor when recruiting new employees.