What to Know about No-Deductible Health Insurance

Updated March 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. 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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