Flex dollars are a form of payment used at large institutions, especially
universities
A university () is an educational institution, institution of tertiary education and research which awards academic degrees in several Discipline (academia), academic disciplines. ''University'' is derived from the Latin phrase , which roughly ...
.
Georgetown University
Georgetown University is a private university, private Jesuit research university in Washington, D.C., United States. Founded by Bishop John Carroll (archbishop of Baltimore), John Carroll in 1789, it is the oldest Catholic higher education, Ca ...
,
James Madison University
James Madison University (JMU, Madison, or James Madison) is a public university, public research university in Harrisonburg, Virginia, United States. Founded in 1908, the institution was renamed in 1938 in honor of the fourth president of the ...
,
University of Toronto
The University of Toronto (UToronto or U of T) is a public university, public research university whose main campus is located on the grounds that surround Queen's Park (Toronto), Queen's Park in Toronto, Ontario, Canada. It was founded by ...
,
Saint Mary's University,
Queen's University,
University of Waterloo
The University of Waterloo (UWaterloo, UW, or Waterloo) is a Public university, public research university located in Waterloo, Ontario, Canada. The main campus is on of land adjacent to uptown Waterloo and Waterloo Park. The university also op ...
,
McMaster University
McMaster University (McMaster or Mac) is a public research university in Hamilton, Ontario, Canada. The main McMaster campus is on of land near the residential neighbourhoods of Ainslie Wood, Ontario, Ainslie Wood and Westdale, Ontario, Westd ...
,
University of Western Ontario
The University of Western Ontario (UWO; branded as Western University) is a Public university, public research university in London, Ontario, Canada. The main campus is located on of land, surrounded by residential neighbourhoods and the Thame ...
,
University of Ottawa
The University of Ottawa (), often referred to as uOttawa or U of O, is a Official bilingualism in Canada, bilingual public research university in Ottawa, Ontario, Canada. The main campus is located on directly to the northeast of Downtown Ot ...
,
University of Utah
The University of Utah (the U, U of U, or simply Utah) is a public university, public research university in Salt Lake City, Utah, United States. It was established in 1850 as the University of Deseret (Book of Mormon), Deseret by the General A ...
,
York University
York University (), also known as YorkU or simply YU), is a public university, public research university in Toronto, Ontario, Canada. It is Canada's third-largest university, and it has approximately 53,500 students, 7,000 faculty and staff, ...
and
Messiah College
Messiah University is a private interdenominational evangelical Christian university in Upper Allen Township, Pennsylvania, near Mechanicsburg.
History
The school was founded as "Messiah Bible School and Missionary Training Home" in 1909 by ...
are all schools that use this system. Flex dollars are not common tender, but rather
scrip
A scrip (or ''wikt:chit#Etymology 3, chit'' in India) is any substitute for legal tender. It is often a form of credit (finance), credit. Scrips have been created and used for a variety of reasons, including exploitative payment of employees un ...
or local currency that can be used to purchase items such as food, snacks, and school supplies.
In insurance, flex dollars are used to assign values to an employee's 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.
See also
*
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: m ...
External links
Berg Bucks Programat
Muhlenberg College
Muhlenberg College is a private liberal arts college in Allentown, Pennsylvania, United States. Founded in 1848, Muhlenberg College is affiliated with the Evangelical Lutheran Church in America and is named for Henry Muhlenberg, the German pat ...
Local currencies
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