What is a $0 Deductible Health Plan and Why It’s Not as Great as it Appears

Let’s face it, shopping for health insurance is confusing and often frustrating. It doesn’t help that there seem to be a million plans on the Exchange to choose from. When you’re shopping this year, if you see a plan that has a $0 deductible, don’t be fooled. It might sound like a great deal, but here’s why it’s not.

  1. Higher Premiums
    • You’ll pay more in premium every month for the $0 deductible plan
    • You’re automatically spending more money over the course of a year
  2. Pay more for regular healthcare services
    • Many plans with deductible often have cheaper regular healthcare needs than the $0 deductible plans
    • Friday has plans with unlimited primary care visits, $0 mental health visits, and $0 generic drugs. On a $0 deductible plan, you’re paying a fee (co-pay) for each of these services.
  3. Pay a similar Maximum Out of Pocket Amount for Major Healthcare Needs
    • If you have a major illness or accident, you’re likely going to hit your maximum out of pocket amount, which are similar on both types of plans.

With the $0 deductible plan, you’re paying the maximum out of pocket payment, PLUS a higher priced premium over the year.  

Think of it like a la carte meal vs. a combo meal. A regular plan with a deductible cost is like a combo meal. When you need to see someone for your health, you know the cost. Say you’re in a car accident and find yourself at the hospital. You know that cost. But if you go to the hospital on a $0 deductible plan, you have the base cost. Then you must pay for individual services just like you would for a side in an a la carte matter, such as lab testing, surgeon fees, more days, drugs, etc. That adds up quickly because you’re playing more than one copay. There are no surprises with a combo meal, and the costs are lumped together, which is why a regular plan is a better idea.

Comparing $0 Deductible Plans to Friday’s Plans

The takeaway? Even if a $0 Deductible plan sounds great, it’s not all it’s made out to be. Have questions? Contact the Friday Care Crew or email questions@fridayhealthplans.com.

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