We'd all be paying it through our taxes and we'd all be covered. And personally, I'd rather have a government agency controlling the cost of healthcare than an insurance company. The insurance company's goal is to make piles of money and they do that by denying treatment (those are your death panels). The government doesn't have a profit-motive involved and that would make me feel a whole lot better about my chances should I get some very serious ailment.
But regarding the bill, it hasn't been discussed much but there has been some mention of tax credits to put toward purchase for those that cannot afford the full cost of healthcare insurance, so some provision has been made for that group.