This is basically a waste of a deck slot, though I'd consider it with Gimli... and maybe Dori+Beorn+healing or some complicated shit. One hit point just doesn't matter enough in general, not when you have to place it in advance. In most cases you expect your blockers to either take minimal damage or get their head exploded like Scanners, and I don't know that anyone exposed to frequent damage is important enough to warrant a whole card for such a small bit of extra insurance. Nor are there any 1hp hobbits or dwarves that warrant protection from treachery chip damage. It'd be nice on Defender of Rammas if he was allowed to use it. I at least appreciate that while you can ride a stack of three horses, you can't wear two pairs of shoes. Some things just shouldn't be trifled with.
Similar 0-cost cards that will help you more: Close Call, Dúnedain Remedy, Gondorian Discipline, Livery of the Tower, Tides of Fate, Weather-stained Cloak. If you somehow just need a general purpose filler card, Cram.