Would this approach to universal health care be feasible?

Note: I’m not asking for opinions on what you think should be done about health care. I just want to know if this would be an unrealistic angle.

If we were to have universal coverage for children and seniors and then have limited, but mandatory coverage for preventaitive medicine, chronic conditions such as diabetes and for life threatening illnesses like cancer. But, that all other insurance would be up to the individual? Broken bones, colds, green toenails, whatever – that coverage would be separate. Would that help to alleviate some of the concern that universal health care erodes the integrity of the care available to everyone? While still ensuring that people aren’t dying because they can’t afford insurance?

What are some of the flaws in this concept and how could it be improved upon?