Cafeteria plans have led the way in the market for Defined
Contribution in health care since the early 1980s. But what
is defined contribution? In the simplest form, it is an approach
to funding employee benefits. Traditionally employers would
select the health insurance for the employees as well as all
other benefits. This approach was called “Defined Benefits,”
and this is still the case today for most employers However,
since 1978 and the advent of defined contribution cafeteria
plans/cafeteria plans, employers are allowing employees to
choose the benefits that best suit their specific needs.
Our goal is to provide an employer controlled/maintained
delivery model of the cafeteria planning process. We strive
to guide you through the creation of the defined contribution
plan and then allow you to maintain it from year to year.
Many HR departments are staffed to handle the deployment of
defined contribution approach for the renewing years and may
not need eflexgroup.com. This is a cost saving strategy for
the employer.
There are various ways Defined Contribution Plans can be implemented,
contact one of our sales representatives to find out how they
could benefit your company.
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