http://perldoc.perl.org/perlpod.html#Formatting-Codes
L<<a href="http://www.perl.org/">http://www.perl.org/</a>>
As you point out, it looks like this should work, but perhaps I've misunderstood your question?
EDIT:
It seems that pod2html does not like that approach.
I found a slightly more involved solution at,
http://blogs.techrepublic.com.com/howdoi/?p=114
#!/usr/bin/perl
use strict;
use warnings;
use Pod::2::html;
my $pod_file = $ARGV[0];
my $template = $ARGV[1];
# Create pod2html object
my $pod = Pod::2::html->new($pod_file);
# The path to the HTML template
$pod->template($template);
# The formatted HTML will go to STDOUT
$pod->readpod();
I tested this out and it seems to have no problem interpolating generic html, so that you don't actually need th L<> tag at all.
This seems like a decent solution to me.