Can you set a life indicator via the player, like with Hypixel, with one command?
Yes you can.
Only if you have installed the appropriate plugins.
Maybe this one still works:
https://dev.bukkit.org/...health-bar
Hypixel uses, I think, a private self-written plugin.
The mod does not show the lives above the player but if you look at it you can see the lives in the top left
http://www.9minecraft.net/damage-indicators-mod/