None of us has health insurance, really.


If you develop a long‐​term condition such as heart disease or cancer, and if you then lose your job or are divorced, you can lose your health insurance.


You now have a preexisting condition, and insurance will be enormously expensive — if it’s available at all. In a new study, “Health‐​Status Insurance: How Markets Can Provide Health Security,” author John H. Cochrane argues that free markets can solve this problem, and provide life‐​long, portable health security, while enhancing consumer choice and competition.