What is a defining characteristic of a Point-of-Service (POS) plan?

A Point-of-Service (POS) plan is distinguished by its combination of features from both Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs). One of the defining characteristics of a POS plan is that it provides a network of selected contracted and participating providers. This network allows members to receive care from specific doctors and hospitals at reduced costs, but the plan also permits members to seek care outside of the network for a higher fee. This flexibility of having a network while still being able to use out-of-network services is what characterizes a POS plan.

The other choices do not accurately encapsulate what a POS plan is. For instance, it is not exclusively a type of HMO, which would negate its hybrid nature. The assertion about access to any doctor without referrals relates more to PPOs, which allow for direct access to specialists without such requirements. Lastly, while POS plans may have lower premiums compared to some types of plans, this is not an exclusive or defining characteristic of them when compared to PPOs. Thus, the option highlighting the network of contracted providers is the most accurate in defining a POS plan.