Which statement best describes flexible benefit plans?

A) They are offered as a bonus to executives.
B) They are favoured by employers because they reduce administration costs.
C) They allow employees to choose benefits suited to their needs.
D) They are offered to employees who then must purchase each benefit they select.

Flexible Benefit Plans

Employee benefit plans that allow individuals to choose from a variety of offerings, tailoring their benefits package to fit personal needs and preferences.

Administration Costs

Expenses associated with the general operation of a business, including office supplies, utilities, and executive salaries, but excluding production and marketing costs.