This reminds me of some catastrophic health insurance I got between getting a job out of college. I was no longer able to have my parent's insurance but I was working at a restaurant that didn't provide any. Anyway, it had a massive deductible and was only really meant to save you from financial Armageddon if you got hit by a car, had a heart attack, or got cancer.

The problem with policies like this is that it persuades you against going in for small problems. You might think twice about going in for a cough or sore throat because you'd have to pay the full $300 for the doctor visit. Most of the time you'd save money by being thrifty on the doctor visits. But what if you were in the early stages of pneumonia or cancer? You'd hold off until you were seriously ill and then not only will the bills be much higher for everyone but your chances of survival might have gone down considerably.

I had a buddy who had a massive sore throat for weeks and weeks but didn't go in because he didn't have insurance. Finally one day his tonsils started closing in and he could barely breath. We ran him into the ER and it turns out he had mono. Probably had it the entire time. Through all that he put in long days and nights and could of seriously hurt himself with the swollen spleen. If he had good insurance he wouldn't have been concerned about going in to see a regular doctor for a checkup. Instead he put it off and the problem just got worse and had we not of gotten him to a hospital he might have suffocated!