Question

Which two are program types when you configure Flex credits?

A) Other Credits
B) Flex Credits Plus Core
C) Core
D) Flex Credits

Answer 1

The two program types when configuring Flex credits are 'Flex Credits Plus Core' and 'Flex Credits'. 'Flex Credits Plus Core' includes a set of core benefits in addition to flex credits, while 'Flex Credits' allows for a flexible arrangement of purchasing benefits.

The correct answer is B.

Step-by-step explanation:

When configuring Flex credits within a benefits program, the two program types you may encounter are B) Flex Credits Plus Core and D) Flex Credits. The term 'Flex Credits Plus Core' refers to a benefits package where employees are given flex credits in addition to a core set of benefits. The term 'Flex Credits' refers to a more flexible arrangement where employees can use credits to 'purchase' benefits that suit their personal needs, often without a predefined core set of benefits.

Answer 2

The two program types when configuring Flex credits are: D) Flex Credits and B) Flex Credits Plus Core.

Step-by-step explanation:

Flex credits offer employees the flexibility to allocate funds to various benefit options, allowing customization according to individual needs. On the other hand, Flex Credits Plus Core combines the flexibility of allocating funds while also including a core set of benefits predetermined by the employer.

Flex Credits, as a standalone option, grant employees the freedom to distribute their credits among a range of benefit choices. This empowers them to tailor their compensation package to suit their preferences. Flex Credits Plus Core, however, maintains this flexibility while ensuring essential benefits, often health-related, are covered irrespective of an employee's allocation choices. This hybrid model strikes a balance between flexibility and essential coverage, offering a comprehensive benefits package.

Correct answer:

• D) Flex Credits and
• B) Flex Credits Plus Core.