Flexible Benefits Law and Legal Definition
Flexible benefits are a type of plan under the Internal Revenue Code that provides employees a choice between permissible taxable benefits including cash, and nontaxable benefits. Non taxable benefits can be life and health insurance, vacations, retirement plans, and child care. The employee can determine how his/her remaining benefit dollars are to be allocated for each type of benefit from the total amount promised by the employer.
Legal Definition list
Related Legal Terms
- Accelerated Benefits (Health Care)
- Accelerated Life Insurance Benefits
- Acceptance-of-the-Benefits Rule
- Assignment of Benefits (Health Care)
- Benefits Eligibility Screening Services (BESS)
- Black Lung Benefits Act (BLBA)
- C&P Examination [Veterans' Benefits]
- Coordination of Benefits (COB)
- Coordination of Benefits (Health Care)
- Coordination-of-Benefits Clause
