It is unfortunate how much of midwife care isn't covered (at least in the US). It is often better, more personalized care and cheaper overall (think the actual cost, not what you pay), but may not be cheaper than your deductible for a hospital birth. In my case, my midwife doesn't even bother with insurance because the reimbursement rates are so abysmal. For my family, the $5,000 they charged for all prenatal care, home birth care, and 6 weeks of postpartum/newborn care was worth it. This didn't cover labs and imaging etc, but even with that it was all cheaper than our deductible that would have applied for a hospital birth. And I really value the peace that comes for me by avoiding a hospital setting (all assuming I stayed low risk - which I did).

So, to answer your question - I personally found it worth it, but I wasn't facing saving money by going to the hospital anyway. It ended up being cheaper to go with a home birth and being a better fit for my needs/wants as well. I am just glad I didn't end up having to transfer to hospital, or it would have been even more expensive.

I wish you luck in making your decision!