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What's a Section 125 cafeteria plan?
A cafeteria plan, also called a Section 125 or a flexible benefit plan, offers:
Employees can choose the benefits they want to receive. If you choose to receive qualified benefits, the benefit is excluded from your income.
Qualified benefits are determined by the tax code and include items, like:
The money in these plans needs to be used within a specified time period, or you’ll lose it.