An option that isn't possible, since any liabilities of the so-called "public option" will be considered liabilities of the Federal government at large, just like Social Security is a liability of the Federal government at large.
When the program inevitably fails, just as every one of its fellow Socialist endeavors conducted by the Federal government, those who never collected any benefits whatsoever will still be on the hook to clean up the mess.
In my opinion, the act of making other citizens liable for my individual (or our collective) mistakes is not just to infringe upon their liberties, but also their rights.