Maintain Cafeteria Plan Details – A summary of the activity

Through this activity, you can specify details for cafeteria-enabled plans. You can specify the details at the program level/plan type level/ plan level.

 The term “Cafeteria Plan,” also referred as “Section 125 Plan,” is the most commonly used description for Flexible Benefit Plans (covered under Section 125 of the Internal Revenue Code). A Cafeteria Plan is a flexible employee benefit plan that enables the employee to choose from a menu of certain fringe benefits and pay for all these benefits with pre-tax dollars. These are accounts funded by the employer, employee or both.  The IRS has strict rules that govern these plans and require careful planning before participating. These rules apply to all FSA’s and health plans.  Full-flex cafeteria plans are an "approach" to benefit planning that includes flexible spending accounts (FSAs) and add an additional dimension of employer funding.  For example, an employer could create "benefit bucks" for the employee to spend. 

In general the term ''cafeteria plan'' means a written plan under which - all participants are employees, and the participants may choose among 2 or more benefits consisting of cash and qualified benefits.

Getting familiar with the pages inside

What you can do in this activity

Through this activity, you can specify details for cafeteria-enabled plans