I'm afraid this would balloon into driving insurance companies out of business and then, ta da, the feds would take over everything.
True, and since that (single payer) is the only real solution to universal access to healthcare via insurance (probably the worst vehicle for it since they don't want to really offer real insurance), that is probably what we are going to get. But truly the insurance companies would ultimately be reaping what they had sewn IMO, which is what created this monster in the first place.