What Is Point Of Service Health Plan

Point-of-service program (POS)

Betoken-of-service plan, or POS, is an insurance term it pays to empathise. Bankrate explains it.

What is a betoken-of-service plan?

A point-of-service plan is a health insurance programme for which policyholders pay less when they seek medical attention from health intendance providers who belong to the plan's network. POS plans brand upward a minor fraction of the health insurance market, with a bulk of people covered by either HMO (wellness maintenance system) or PPO (preferred provider arrangement) insurance plans.

Deeper definition

A POS plan combines the traits of both a PPO and an HMO. Its built on a managed intendance foundation in which customers savour lower medical expenses in substitution for a more than limited choice of wellness care providers.

A POS plan is like to an HMO in that it requires policyholders to choose main care doctors from within the programme'south network and obtain referrals from those doctors to comprehend the services of different specialists.

The similarity between a POS and a PPO is that out-of-network services are covered, only policyholders pay more for them. The POS program, withal, pays more toward out-of-network care when policyholders have a referral from their primary care doctor. Policyholders too may be required to pay an annual deductible, co-insurance and co-payments.

In a POS plan, subscribers are allowed to visit any specialist. This can exist beneficial for people who use outpatient services. The plan also offers greater flexibility, since traveling policyholders can visit health care providers anywhere. Additionally, the coverage can be good for people in rural areas with limited HMO choices.

Point-of-service plan case

Joe has a POS medical insurance plan that has an annual deductible, co-pays and an out-of-pocket limit. Joe's plan covers lxxx percentage when he sees a health care provider who is in the plan'southward network. But the plan pays simply seventy percent if he receives medical intendance from a provider outside the network. The plan also allows him to seek wellness services exterior the network after being referred by a specialist inside the network. Joe's insurance plan is a point-of-service plan.

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