cafeteria plan

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ca·fe·ter·i·a plan

(kafe-tē'ri-a plan)
Employee benefit plan that allows a choice between alternative nontaxable benefits.

cafeteria plan,

n an employee benefits plan in which employees select their medical insurance coverage and other nontaxable fringe benefits from a list of options provided by the employer.
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Health flexible savings accounts (FSAs) offered as part of a cafeteria plan.
Due to the cost of healthcare and other benefits available under the cafeteria plan, cafeteria plans are widely used and employees enjoy the benefits.
Second, cafeteria plans and voluntary benefits (such as life or disability or cancer insurance) tend to come further down the list of fringe benefits that firms offer (Abraham, DeLeire, and Royalty 2009).
Therefore, it was legally unclear whether cafeteria plans could be used to fund medically underwritten health insurance without violating HIPAA.
Qualified Health Plans' May be Offered Through Cafeteria Plans: A ''qualified health plan" offered through a health insurance Exchange will not be a qualified benefit that may be offered through a cafeteria plan.
Kushner argued that when owners of small businesses realize that they will not be able to benefit from cafeteria plans which they might want to offer to their employees, they simply lose interest.
A cafeteria plan allows employees to contribute a certain amount of their gross income to a designated account before taxes are calculated.
Department of Treasury and the Internal Revenue Service issued proposed regulations to provide guidance under section 125 of the Internal Revenue Code relating to cafeteria plans.
WHAT IT INCLUDES: In addition to health insurance, cafeteria plans can cover automobile, group term life insurance and business travel accident insurance.
Cafeteria plans are "fringe benefits" under which employees may choose from various options to fit their health-care needs, up to a specified dollar value.
An employer can now add a "grace period" to its cafeteria plans of up to 2 1/2 months immediately following the end of the plan year.
The AICPA said cafeteria plans should be offered to small business employees as well as employees of larger companies and government agencies.