Point of service plan
Okay kiddo, imagine you go to the store to buy some candy. You can either choose to pay for the candy right away (like when you give the cashier your money) or you can choose to pay for the candy later when you get home (like when your mom gives you an allowance).
A point of service plan, or POS plan for short, is a type of health insurance where you have to pay for some of your healthcare right away, like when you buy candy at the store. Let's say you go to the doctor for a check-up, your POS plan might make you pay a certain amount, like $10 or $20, before you even see the doctor. This is called a co-pay.
But, after you pay your co-pay, the POS plan will cover the rest of the cost of your doctor's visit. So, if your check-up cost $100 in total, you pay $10 or $20 and your POS plan pays the rest.
The good thing about a POS plan is that it usually has lower monthly premiums (like the allowance your mom gives you every week), but you may have to pay more out of your pocket when you go to the doctor. It's important to remember that every POS plan is different, so you should always read the details carefully before you buy it.
Does that make sense, kiddo?
A point of service plan, or POS plan for short, is a type of health insurance where you have to pay for some of your healthcare right away, like when you buy candy at the store. Let's say you go to the doctor for a check-up, your POS plan might make you pay a certain amount, like $10 or $20, before you even see the doctor. This is called a co-pay.
But, after you pay your co-pay, the POS plan will cover the rest of the cost of your doctor's visit. So, if your check-up cost $100 in total, you pay $10 or $20 and your POS plan pays the rest.
The good thing about a POS plan is that it usually has lower monthly premiums (like the allowance your mom gives you every week), but you may have to pay more out of your pocket when you go to the doctor. It's important to remember that every POS plan is different, so you should always read the details carefully before you buy it.
Does that make sense, kiddo?