No Deductible Health Insurance Plans
Are zero deductible health insurance plans oversold?
There are two things that the careful consumer should know about no deductible health insurance plans. The first is that even with a zero deductible, you will probably need to pay something towards your medical care. The second is that a zero deductible health insurance plan will usually have a monthly price tag that isn’t justified by the additional benefits.
Deductibles, coinsurance and co-pays are the typical cost shares that are associated with health insurance policies. A no deductible health insurance plan will probably have coinsurance and co-pays. In fact, often zero deductible plans will have higher coinsurance and co-pays than other plans. It pays to read all the fine print before making a final decision.
Zero deductible health insurance plans are often more expensive than they are worth. You may wind up paying a lot more in monthly premiums and getting a little more in benefits. Making a careful comparison and doing some arithmetic can help you make the right decision.
No deductible health insurance plans are often much more expensive than high deductible health plans that are Health Savings Account compatible even when you factor in the added benefits.