Conservatives: Would you support an optional government health-insurance program for Children Only?

I would support it if and only if it were paid for entirely through patient premiums. If it's solely for young people they should be pretty low (to borrow from your argument) and if you remove the profit motive then it will also lower costs (at least according to a lot of arguments I've heard from those who support this). So give them one year of SCHIP funding to start off, which will make it revenue neutral, and then fund it entirely from the premiums people using it will pay. I would not have a problem with that.