What is a point-of-service plan?
The Bankrate.com financial term of the day is: "point-of-service plan."
A point-of-service health care plan, or POS, is part of the managed care mix with HMOs and PPOs. A POS plan is similar to an HMO, or health maintenance organization, in that you choose a primary care doctor from within the plan's network, and that physician acts as your gatekeeper to specialists and other care within the network. However, you have freedom to go outside the network if you're willing to pay higher out-of-pocket costs.
A point-of-service plan offers convenience and savings if you stay within its network of doctors. But you can go outside the walls if you're willing to pay.
To get an insurance quote, visit the Insurance section at Bankrate.com.