Point of Service Plans — POS Plans, Coverage & Quotes
A POS plan, otherwise known as a point of service plan, combines aspects of HMOs and PPOs. It is a type of managed care that offers a certain amount of freedom while still having your POS health plan crontrol most of your employees’ health care. Group health insurance can be cost-effective under a POS plan, which allows the insured can go to hospitals and physicians which are either inside or outside the preferred network. If your family utilizes health care services within the network, you will be able to take advantage of discounted rates. While you are allowed to go out-of-network, POS family healthy insurance plans require you to pay a hefty percentage of the bill.
Unlike a PPO, a POS insurance plan requires your employees to select a primary care physician (PCP). POS plans get their name from the fact that your primary doctor becomes your “point of service”. An employee will need to get a referral from your primary doctor before visiting a specialist. He or she can then refer you to a specialist that is either in- or out-of-network. If a person are referred to an outside specialist, your business health insurance PPO medical plan will cover the visit albeit at a lower reimbursement rate. Therefore, it can save your firm money if your small business health insurance encourages doctors and employees to work together and conserve costs for the plan.
Still, your employees save the most when they stick with your POS health insurance plan’s network. POS insurance plans typically handle the paperwork for you. When you utilize services within the network, you don’t have to worry about filing claims or receiving reimbursement. If you go outside of the PPO’s network, those tasks become your responsibility. A POS healthcare plan may also refuse to cover any specialist visits if you ignore or fail to select a PCP. In those cases, you may have to pay the whole cost of the treatment immediately.
Premiums and co-payments are less expensive under POS plans than they would be under a PPO, meaning that employees and employers alike will pay less for small group health insurance. There is also no deductible on most POS health insurance plans when someone uses in-network care. This is because your employees forgo some of the flexibility a PPO offers; e.g., self-referral. However, as health insurance for small businesses, it is more expensive than HMOs. Employees can expect pay about $300 annually on deductibles if they choose to utilize out-of-network care, in addition to higher co-payments and co-insurance percentages.
There are several things someone looking for employer health insurance needs to know about POS insurance plans. While it is essential that the cost of the health insurance in a POS plan fits your company’s budget, it’s not the only thing you should consider. When selecting a POS health plan, think about the approved providers each one covers. Take a look at the list of doctors in the POS plan’s network. Ideally, there will be a wide variety of doctors and hospitals included to represent your workforce’s geographical area and health conditions
VitalOne has licensed group health insurance agents available to compare small business health insurance quotes and coverage in order to assist you in choosing the best POS insurance plan for your business.
