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The employees of today’s workforce are divers. With such a workforce at hand, an employer must have a flexible benefit plan to match the composition of its employees. Flexible benefit plans are a written plan under which employees of a company are allowed to c ....

Middle of Essay
.... as much as possible. With his/her own children grown-up, he/she needs to attend only to his/her own needs. Also known as “cafeteria plans,” the organization offering a choice of applicable benefits to their employees ensures that the benefits for which they pay are the most useful for each of their employees. Costs are rising in almost every area of benefit provision and administration. The organization is able to secure more favorable rates for those benefits used, if the organization is not required to provide the same service to each employee (Webster, 1996). Employee benefit plans have had a long history, and can be traced back to 1794 ....