The problem is not the insurance companies or the libertarian mold or worldview.
The problem is that delivery of medical care is not an insurable event. Medical care does not follow the patterns of insurable events that can be insured, re-insured, and hedged against. For your card analogy, it would be as though your chips, and the dealer chips, just disappeared at midnight.
Insurance that is truly that - insurance against unlikely events - is very inexpensive. Consider that insuring your home against major losses, say to $500k, in areas not flood prone or tornado prone, costs perhaps around a thousand dollars a year. That is quite cheap. The cost to insure the same home in an area prone to floods is perhaps five times the base rate. Or more. And in some areas, it is not available at any cost.
And so that's that. Medical insurance is not really insurance. It's a combination of a payment plan, a pre-payment voucher for routine services, a cost sharing plan, a buying club, and a hedge against future events.