that it makes financial sense. It's cheaper to prevent the pregnancy than it is to pay for the pregnancy. The same principle applies to auto insurers who will repair minor windshield dings "for free" (i.e. waive the deductible). They're not doing that to be good guys... they're doing it because it costs them less to preventatively fix the ding, than it does to replace the whole windshield after the ding spreads.

As far as what is elective, I don't know that I can come up with a great generic definition to apply to all cases, but I'd say cosmetic surgery to alter, remove, or enhance a naturally occruing biological feature (i.e. a biological male having a penis and not having breasts) should be considered "elective".

And I don't think something has to be life threatening to be considered essential. There are plenty of medicines or treatments that improve quality of life without necessarily being essential for life.