What is POS Full Form in Insurance?
The POS full form in Insurance is Point of Service. The POS health insurance plan offers access to health care services at a lower cost but has only fewer options while availing healthcare. It also offers details on from where and from whom the insured can avail the healthcare services.
How does POS in health insurance work?
The POS plan requires the policyholder to choose an in-network healthcare doctor and seek referrals from that doctor if they want their policy to cover specialist services. Though it offers coverage for out-of-network services as well, the policyholder might have to pay more than if they have made use of the in-network services.
Advantages of POS insurance services:
The advantages of POS insurance services are that the health care costs are lower when care is taken from in-network service providers. The insured can consult the specialist out of their approved network and also be covered, but they may have to pay from their pocket. Also, while receiving medical care from in-network treatment options, the paperwork is generally done by the insurance company. These plans also have nationwide coverage and thus are beneficial for those who travel frequently.