It has long been known that the lifetimes of superconducting qubits suffer during readout, increasing readout errors. We show that this degradation is due to the anti-Zeno effect, as readout-induced dephasing broadens the qubit so that it overlaps "hot spots" of strong dissipation, likely due to two-level systems in the qubit's bath. Using a flux-tunable qubit to probe the qubit's frequency-dependent loss, we accurately predict the change in lifetime during readout with a new self-consistent master equation that incorporates the modification to qubit relaxation due to measurement-induced dephasing. Moreover, we controllably demonstrate both the Zeno and anti-Zeno effects, which can explain both suppression and the rarer enhancement of qubit lifetimes during readout.