Home | Fridays With The Benefit Source | Our Products | About Us | Privacy Policy | Contact

Insurance Glossary

Find the answers to your insurance questions by clicking on the topic below.

What is....

...an HMO?
...a PPO?
...an HSA?
...Point of Service Insurance?
...a Self-funded plan?
...a Voluntary Benefit plan?

Tell me more about...

...Dental Insurance
...Vision Programs
...Disability Insurance
...401K
...COBRA Administration
...Kidcare
...Employee Assistance Programs

Glossary: Point of Service

A Point of Service plan is a hybrid between HMO and Indemnity coverage.

When an employee joins a POS, they must, like an HMO, choose a Primary Care Physician (PCP). If the employee chooses a physician within the network, the plan functions like an HMO. (The employee must obtain a referral for any and all services short of emergency from their PCP.)

But under Point of Service coverage, if the employee chooses a physician outside of the network, then claims are paid after an appropriate deductible and coinsurance have been met, at a fee schedule set by the carrier. While somewhat unusual in the insurance industry, many employees like POS plans since they provide the comprehensive, claim free, coverage of an HMO, while offering an opt-out provision.

The Benefit Source Inc.
340 W. Butterfield Road - Suite 4B - Elmhurst, IL 60126
800.530.1773 | 630.530.0125 | fax: 630.530.0221
Our privacy policy