Compare Point of service plans with health maintenance ortganization plans. I have been looking for this answer in my book for about an hour and i still cant find it! Please Help.
http://www.opm.gov/insure/HEALTH/about/glossary.asp
Comparing Point of Service (POS) plans with Health Maintenance Organization (HMO) plans can be confusing, but I'm here to help you understand the differences.
To compare these two types of health insurance plans, consider the following:
1. Provider Network: POS plans typically have a more flexible network of healthcare providers. You can choose to see healthcare professionals both in-network (preferred providers) and out-of-network (non-preferred providers). HMO plans, on the other hand, usually restrict you to their network of preferred providers. It's important to note that seeing out-of-network providers in a POS plan may result in higher out-of-pocket costs.
2. Primary Care Physician (PCP): HMO plans require you to select a primary care physician (PCP) from their network. This PCP coordinates your healthcare and refers you to specialists if necessary. POS plans don't usually require a PCP but give you the option of seeing a specialist directly without a referral. However, seeing a specialist directly in a POS plan may cost you more.
3. Referrals: As mentioned earlier, HMO plans typically require referrals from your PCP to see specialists. POS plans, being more flexible, usually do not require referrals, allowing you to see specialists without going through your primary care physician.
4. Cost-sharing: Both POS and HMO plans involve cost-sharing, which includes premiums, copayments, deductibles, and coinsurance. However, the specific costs and structures can vary depending on the plan and the insurance provider. It is essential to review each plan's details and compare the cost-sharing features to determine which suits your needs best.
When comparing these plans, it's vital to consider your preferences for provider choice, access to specialists, and overall healthcare costs. Each person's situation is unique, so it's important to evaluate the benefits and limitations of both POS and HMO plans based on your individual healthcare needs. It's possible your textbook doesn't have this specific comparison, as information on health insurance plans can vary.