Point-of-Service (POS) Plan

What is a point-of-service plan?

A point-of-service plan is a health care coverage plan for which policyholders pay less when they look for medical consideration from medical care providers who have a place with the plan's network. POS plans make up a small part of the health care coverage market, with a majority of individuals covered by either HMO (wellbeing maintenance organization) or PPO (preferred provider organization) insurance plans.

More profound definition

A POS plan combines the traits of both a PPO and a HMO. Its based on a managed care foundation wherein customers appreciate lower medical expenses in exchange for a more limited decision of medical services providers.
A POS plan is like a HMO in that it expects policyholders to pick primary care doctors from inside the plan's network and get references from those doctors to cover the services of various specialists.
The closeness between a POS and a PPO is that out-of-network services are covered, however policyholders pay something else for them. The POS plan, notwithstanding, pays more toward out-of-network care when policyholders have a reference from their primary care doctor. Policyholders likewise might be required to pay an annual deductible, co-insurance and co-payments.
In a POS plan, supporters are permitted to visit any specialist. This can be beneficial for individuals who use outpatient services. The plan likewise offers greater flexibility, since voyaging policyholders can visit medical care providers anyplace. Also, the coverage can be really great for individuals in rural areas with limited HMO decisions.

Point-of-service plan model

Joe has a POS medical insurance plan that has an annual deductible, co-pays and an out-of-pocket limit. Joe's plan covers 80 percent when he sees a medical care provider who is in the plan's network. Be that as it may, the plan pays just 70 percent assuming that he gets medical care from a provider outside the network. The plan likewise permits him to look for wellbeing services outside the network subsequent to being alluded by a specialist inside the network. Joe's insurance plan is a point-of-service plan.

Features

• Point-of-service (POS) plans normally offer lower costs, yet their rundown of providers might be limited.
• POS plans are like wellbeing maintenance organizations (HMOs), however POS plans permit customers to see out-of-network providers.
• A POS policyholder is responsible for filing all the desk work when they visit an out-of-network provider.