You know, Joseph64, I would bet the $1.64 I have in my pocket that people you hypothetically describe wouldn't dare give up their latest tech gadgetry and many other non-necessity's they pay for each month rather than continuing paying their premiums. Want to know why? Because a health insurance plan doesn't bring them instant gratification.
That's somewhat the difference between liberals and Conservatives. Conservatives see a necessity in assuring that if tragedy strikes another tragedy doesn't occur with total financial devastation. Liberals prefer their tragic mistakes to be somebody else's problem such as those who were prepared.