When he becomes President, if Barack Obama decides that the way forward on Universal Health Care is to move forward on a Universal Health Insurance scheme, just as New York City and the French do, then the governments' bailout of AIG provides a decent way to see that come to fruition.
With control of AIG, it should be very straightforward to create and implement health insurance packages that provide that coverage, and AIG has the size and market presence to set price and ensure market adoption.
What the medical insurance industry would then provide is universal basic coverage, and extended coverage for people how want more personalized service.
For the government, it's a way to provide health care efficiently and to take advantage of economies of scale, particularly if they fix the prescription drug fiasco of the last few years.