What to Know about No-Deductible Health Insurance

Updated June 2022

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. Friday Health Plans will start offering $0 Deductible plans in 2023, and you may see other companies offering similar plans. Here's what you need to know about $0 deductible plans versus regular deductible plans and what you might consider when thinking about the best plan for you or your family:

  1. $0 Deducible Plans have 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. A la Carte vs. Combo Meal
    • With $0 Deductible coverage, you pay per service (such as bloodwork and visit cost) like buying an a la carte meal.
    • Plans with deductibles have set copays and rates.
    • All Friday plans have $0 wellness visits, $0 mental health counseling visits, and $0 ACA drugs.
  3. Pay a similar Maximum Out of Pocket Amount for Major Healthcare Needs
    • Suppose you have a significant illness or accident. In that case, you're likely to hit your maximum out-of-pocket amount, which is similar on both types of plans.

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 price. 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.

Buying a $0 Deductible plan is excellent if you know you'll be using your plan a lot in the next year. Purchasing a plan with a deductible is good to cover you for basic needs and be there for you in case of an emergency.

Have questions? Contact the Friday Care Crew or email questions@fridayhealthplans.com.

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