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HMO vs. POS , which win?
A point of service plan, is a type of managed care health insurance plan in the United States. It combines characteristics of the health maintenance organization (HMO) and the preferred provider organization (PPO). The POS is based on a managed care foundation—lower medical costs in exchange for more limited choice.
HMO vs POS reviews
Pros of HMO:
- Premiums are typically low
- Easy to find healthcare providers
- Cash rewards and other perks are often offered
Cons of HMO:
- Must choose a primary care doctor
- Need a referral to see a specialist
- Cannot use out of network providers
- Your employees will have the freedom to choose their own PCP, and they can go out of network if necessary.
- The lower copays and premiums are also very appealing for employees.
- Employees also do not have any annual deductible requirements that your employees will need to be concerned about.
- If employees never go out-of-network, then they may end up wasting part of their premiums.
- Deductibles can be costly for employees, and choosing a plan that has annual deductible for out-of-network plan can be confusing and wasteful.
- There is a lot of paperwork involved in a POS plan, particularly if you have to be reimbursed for out-of-network services.