An organization provides a salary plus a fixed range of core benefits and standard benefits for its employees. The organization, however, wishes to give its employees some flexibility for benefits selection, to suit their own risk tolerance level.
Therefore, by allowing the employee to increase or decrease the levels within each of these benefits, the employee is given a degree of flexibility with regards to the benefits he or she receives. Ultimately, the employee must pay any additional costs should they, for example, only increase their levels of benefits chosen above the level of the standard benefits provided. Conversely, the employee benefits in cash where the level of benefits chosen is below the value of the standard benefits provided by the organization.
More terms such as no additional funding scheme in Dictionary N.
- Manual Nonclaim Case:
- Help Valid only in Singapore. Inpatient or outpatient case for which Medisave or Medishield does reimburse service charges no additional funding scheme definition.
- Manual North American Free Trade Agreement:
- Help between the USA, Mexico, and Canada. This agreement allows special tariff treatment (lower or free duty) when exchanging commodities between these countries. The agreement eliminates tariffs and no additional funding scheme explain.
- Manual NCM Code:
- Help A classification of goods that is issued by the Brazilian government and used to determine the IPI tax rate no additional funding scheme what is.
- Manual Non-Negotiable Document:
- Help A document that cannot be used to claim title to cargo. Air waybills are non-negotiable no additional funding scheme meaning.
- Manual Non-Annex-I License:
- Help An authorization permitting exporters in the European Union to export their goods outside of the EU. This authorization is provided by the customs authorities and is product-independent no additional funding scheme abbreviation.
