The POS Health Insurance – a Complete Guide
When it comes to choosing a health care policy, there are a lot of options to available in the market these days. One of these options, which have become somewhat popular in the recent times, is the Point of Service (POS) policy. The POS health insurance plans can be looked upon as a combination of the traditional protection and the modern coverage options. In the entire health industry, a POS insurance plan is a complete and well managed health care program, similar to the PPO (preferred provider organization) and the HMO (health maintenance organization). The composition of this insurance plan promotes the usage of physicians within a particular network of the providers. You are permitted to avail the services of clinics and hospitals outside the network, but the cost involved is usually high.
Selection Of Physicians
The main advantage of the POS health insurance plan is that you have the flexibility for choosing the physicians from within or outside the network. Within the network means, the insurance provider has discussed the deals with the physicians at a standard price. Out of the network implies that, the physicians have not made any contract with the service provider.
As the POS plans offer both inside and outside network coverage, co-payment mechanism is very important to comprehend. Co-payment refers to a fee, which you have to pay for visiting a health care professional. The co-payment fee is quite low if you go for the in-network care as compared to the out of network services. Even though the POS health cover provides the flexibility of out of network coverage, the price connected disheartens the usage of this part.
It is yet another type of expense which the insured is required to deal with. The deductible usually refers to, paying a part of your medical bills before the insurance companies start dealing with the expenses. The amount of deductible mainly depends upon the level of coverage you have selected. For within the network care, a POS plan does not need any amount of deductible. Whereas, for the outside network, you are required to pay large amount of deductible before the insurance company actually starts paying your medical expenses. Upon purchasing a POS health cover policy; you should have complete understanding about the deductible in order to know more about your cost commitment.
Benefits Of POS
One of the main benefits of choosing a POS plan is that you can choose from both the in-network as well as out-network providers and the capability of combining these two options. For instance, if you visit a doctor from within the network, then you have to pay the minimum amount of co-payment and avoid paying any amount of deductible. However, if you are already seeing a particular doctor, outside the network, you can continue to avail the services although the expenses will be comparatively high.
So, this was all about the POS health insurance plans. If you are looking for acquiring a health cover policy, having the flexibility of choosing the physicians inside as well as outside the network, then POS health insurance plan is worth considering.
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