I think no one has a problem with "elimination of medical bankruptcy for them". The problem seems to be that it also eliminates it for others. With "my money", which "the corrupt and inept government is going to misspend anyway".

I know I am exaggerating and misrepresenting a lot of people with this characterization.

To me the solution seems obvious: you don't need private companies to do the job of the government. You need a less corrupt government, capable of doing its job. With the middlemen you just move the corruption around.