When lawyers meet on Tinder, this is the kind of thing they end up negotiating about later in the evening. It's also a relevant concept related to health benefits.
Rather than providing health insurance through the company, an employer might instead make funds available for employees to purchase their own coverage on the open market. This is called a "benefit allowance."
For the employers, it can ease the bureaucratic requirements of maintaining some benefits, eliminating the need to act as the middleman between the employee and their insurer. For employees, it can mean additional choice.
Often, the company provides a basic vanilla group health package, and then compliment this with a benefit allowance that employees can use to customize their coverage from there.
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Finance: What is a Beneficiary?25 Views
Finance a la shmoop.. what is a beneficiary? well in Latin, bene is
good so this is like a good place to catch fish...well close not [Old man fishing in the ocean]
really but being a beneficiary is good it means you get stuff like if you are
the beneficiary of weird uncle Al's will then you get his odd collection of hair
balls shaped like US presidents and thirty two thousand two hundred sixty [Uncle Al's will appears]
$9.32... in essence then you are the beneficiary of his will you are the one
set up to benefit by the death of someone who wanted to favor you with
their assets when they had you know passed on to the great beyond where hair [Uncle Al with white wings in heaven]
balls will fall....
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