If there's one thing I've learned from this message board, it's that conservatives and libertarians are mostly incapable of thinking in terms other than black and white. First off, no, that's not what fascism means. Fascism is actually a specific term that just about everybody uses incorrectly in place of "SOMETHING I THINK IS BAD!"
Second, you're on the wrong scale. There's a difference between "hey lets regulate insurance companies more strongly" and "WOOO! COMMUNISM FOR EVERYONE!" You're a half-breath away from invoking the Godwin fallacy. Why not just say this bill is something Hitler would have liked? Because that's apparently the level of discource that your side wants to operate on. I mean, why bother debating specifics when you can just call it fascistsocialcommuliberalism?
Edit: And Monroe, for God's sake, you're still talking about a theoretical situation. No insurance company would willingly or knowingly put such a clause in their insurance contracts, and there's nothing in this bill that forces them to do so. Yes, theoretically some bonehead politician could introduce a bill that lets people opt-out of deductibles. Insurance companies would basically riot, and if that scenario did occur I'd be right there next to you holding up a protest sign and writing to my congressman urging him to vote against such a foolhardy idea.
You know, theoretically an asteroid could kill us all tomorrow, but there's no evidence that one will. So let's maybe worry about things that are actually happening?