Cafeteria Benefit Plan
Definition of "Cafeteria benefit plan"
Arrangement under which employees may choose their own employee benefit structure. For example, one employee may wish to emphasize health care and thus would select a more comprehensive health insurance plan for the allocation of the premiums, while another employee may wish to emphasize retirement and thus allocate more of the premiums to the purchase of pension benefits.
Popular Insurance Terms
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Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums due on an insurance plan. ...
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