What does POS mean in health insurance terminology?

In health insurance, POS stands for Point of Service. This indicates a type of health insurance plan that combines features of both Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs). With a POS plan, members choose a primary care physician who coordinates their care and provides referrals to specialists within the network. However, unlike a typical HMO, members can also seek care outside the network, although they might have to pay higher out-of-pocket costs.

The structure of a POS plan allows for greater flexibility in seeking medical services. Members benefit from having the cost savings associated with in-network providers while retaining the option to access out-of-network care. This dual approach helps bridge the gap between the more restrictive HMO model and the more flexible PPO model.

The other options, such as Policy of Service, Plan of Savings, and Premium on Service, do not correctly define the term POS in the context of health insurance, nor do they represent recognized or standard terminology in the industry. Hence, Point of Service is the accurate definition for POS in health insurance.