Socialized insurance isn't just my ability to pay, it is the willingness of everyone else to pay. If you need expensive treatment and have money this is an important distinction. With multiple players you in theory have the ability to decide if you want to be in the cheap payout pool that lets you die of concern, or the more expensive pool that covers chemo that can add years of life.

Of course what we have now with employers sponsored plans is the worst of both...