The OP's story kinda reminds me of a position that Mrs. doc and I took over 40 years ago regarding auto insurance........I have a "thing" about insurance......I HATE having to buy auto insurance, and pretty much consider it state-sanctioned extortion.
Therefore, we started putting some money aside each month until we had enough in the fund to meet the states minimum liability requirements.......as most states will allow a vehicle owner to post a cash bond in lieu of insurance, we started doing that, and continued to place the money that we would normaly pay in insurance premiums in the bond account. We've done this for forty years.......There is now more than enough funds in the account to cover any liability situation with the vehicle, and we purchase an inexpensive "umbrella" policy, for fifty or so bucks a year to cover any excess liability situations with vehicles, home, travel, etc..
We in essence "self insure", and through the savings in premiums have a nice nest egg that can be used for any number of things, such as a catastrophic illness........but then we were never tought to depend on the government for our individual welfare.........
doc