Flex dollar
Encyclopedia
Flex dollars are a form of payment used at large institutions, especially Universities. James Madison University
, University of Toronto
, Queen's University, University of Waterloo
, University of Western Ontario, and Messiah College
are all schools that use this system. Flex dollars are not common tender, but rather scrip
or local currency with which you may purchase items such as food, snacks, and school supplies.
Flex Dollars also refers to a term used by an insurance company to assign values to an employees benefits. The employee instead of having a deductible or a certain percentage of coverage is assigned a pool of Flex Dollars to assign as they are required. The obvious advantage to this is the ability to assign a much larger amount of coverage to one area while not being covered in another world.
James Madison University
James Madison University is a public coeducational research university located in Harrisonburg, Virginia, U.S. Founded in 1908 as the State Normal and Industrial School for Women at Harrisonburg, the university has undergone four name changes before settling with James Madison University...
, University of Toronto
University of Toronto
The University of Toronto is a public research university in Toronto, Ontario, Canada, situated on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution of higher learning in Upper Canada...
, Queen's University, University of Waterloo
University of Waterloo
The University of Waterloo is a comprehensive public university in the city of Waterloo, Ontario, Canada. The school was founded in 1957 by Drs. Gerry Hagey and Ira G. Needles, and has since grown to an institution of more than 30,000 students, faculty, and staff...
, University of Western Ontario, and Messiah College
Messiah College
Messiah College is a private Christian college of the liberal arts and applied arts and sciences located in Grantham, Pennsylvania, near the capital city of Harrisburg...
are all schools that use this system. Flex dollars are not common tender, but rather scrip
Scrip
Scrip is an American term for any substitute for currency which is not legal tender and is often a form of credit. Scrips were created as company payment of employees and also as a means of payment in times where regular money is unavailable, such as remote coal towns, military bases, ships on long...
or local currency with which you may purchase items such as food, snacks, and school supplies.
Flex Dollars also refers to a term used by an insurance company to assign values to an employees benefits. The employee instead of having a deductible or a certain percentage of coverage is assigned a pool of Flex Dollars to assign as they are required. The obvious advantage to this is the ability to assign a much larger amount of coverage to one area while not being covered in another world.
External links
- Flex Dollars at Clarion University of PennsylvaniaClarion University of PennsylvaniaClarion University of Pennsylvania, located on a campus in Clarion, Pennsylvania, is one of fourteen universities of the Pennsylvania State System of Higher Education ....
- Flex Dollar Program at Muhlenberg CollegeMuhlenberg CollegeMuhlenberg College is a private liberal arts college located in Allentown, Pennsylvania, United States. Founded in 1848, Muhlenberg is affiliated with the Evangelical Lutheran Church in America and is named for Henry Melchior Muhlenberg, the patriarch of the Lutheran Church in America.- History...