The 'socialized medicine' (we simply call it health care) is funded via our tax dollars - and I'm happy to both have it and to pay for it... Insurance on the other hand is mandated by law, then run by a series of private companies - many of whom lobby the hell out of the provincial government (wink, wink, nudge, nudge) in order to increase thier rates... citing "higher payouts" and "frivolous lawsuits", but they ARE NOT required to disclose thier actual costs, nor are they obligated to disclose the earnings of thier employees and/or management.
If it's mandated by provincial law, then the people forced to buy the product must have a say in how the company is run - ie. the ability to vote out the 'powers that be' every 4 years if they're making a mess of the system.
Provinces to the west (Alberta being a prime example) have provincially run insurance providers - thier rates are 70% lower than ours in Ontario (on average), and thier coverage is similar or better for the average rate-payer.
I am not a socialist by any stretch - my thoughts on the matter simply are: If it's a government madated service, then make it a government service - if it's a private sector service, then let the private companies compete... You can't have government intervention into the logistics behind a private enterprise (ie. I SHOULD be able to buy insirance from a company in the states, or western Canada, if it truly were a free market system).
Sorry about the rant - I think I need to stop reading about politics before I lose it... hahaha