Pros and Cons of POS Plans
Posted in Health Insurance , Point of Service Plans
September 14th, 2009
A point-of-service plan is a type of managed-care health insurance that furnishes members with a network of doctors and hospitals to visit, as well as providing the flexibility to go out of network when choosing doctors. There are both pros and cons in opting to sign-up for a POS plan that consumers should be aware of before committing to that option.
Having even a minimal level of health insurance is a necessity not only for maintaining your personal well-being but also for warding off a potential financial crisis that can occur due to the out-of-pocket costs for medical care. Making the choice to enroll in a managed-care health insurance plan is a wise decision as the long-term benefits outweigh the overall costs. A POS plan is a type of health insurance policy that may to fulfill all your needs.
Advantages of POS Plans
- Doctors appointments and treatments within the service network will cost only a nominal fee
- The fee for most doctors appointments range from $10-$25 depending on the insurance plan and the provider
- There is no deductible that needs to be met within the service network
- Yourprimary care physician (you main POS liaison) can refer out of network specialists
- The managed-care network focuses its energies on preventive medicine, thus increasing your odds for maintaining your health or catching diseases in their earliest stages of development
- Out of network medical attention is covered by a POS plan
- Freedom of choice is provided through POS plans
- Your annual out-of-pocket costs are limited
Disadvantages of POS Plans
- Deductibles need to be met for costs and charges incurred outside of the managed-care network of doctors and hospitals
- Members may be responsible for paying between 30%-40% of the costs and charges incurred from visiting outside of managed-care network of doctors and hospitals
- Getting a referral from your managed-care primary physician to an outside physician may be time-consuming and challenging
- The cost for a POS plan is higher than a plan that is only a health maintenance organization (HMO)
Only you can decide what type of health plan is right for you and your family. For instance, if you require more health care than the average person due to preexisting conditions, it may be wise to choose a plan that has lower maximum out-of-pocket expenses. Make sure you do your research and obtain various health insurance quotes before deciding on a plan and provider. By filling out the online Go Insurance Rates health form, you’ll have access to free health rates in a quick and convenient way.