What would happen is this: taxpayers would be hit with the burden of funding "free" health care. It wouldn't be good enough for many of them so they'd get double-hit paying for their own costly insurance.
I'd like to see the third-party insurers disappear from the health scene. Yeah, wishful thinking I know, but I'd prefer a direct pay system over what we have. More competition, more efficiency, more choice, a stronger doctor-patient relationship and lower costs.
While I'd really like to see every American covered I realize the federal government would just make a bad situation worse. The states can do what they will, at least there's a chance to reverse the damage done...or you can flee to another state if things get really nuts.