Cafeteria Benefit Plan

Cafeteria Benefit Plan
An arrangement that allows employees to choose their own employee benefit structure, tailoring it according to their personal needs and preferences.
Flexible Spending Account (FSA)
A plan under which employees may make tax-free salary-reduction contributions to a medical or dependent care reimbursement plan, or to purchase group health insurance or life insurance coverage on a pretax basis.

Accounting Terms Lexicon

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