COMPETE Act

The COMPETE Act amends the Public Health Service Act to formally define short-term limited duration insurance as health coverage contracts lasting no more than 12 months from their original effective date. This legislation allows these policies to include renewal options that let policyholders purchase future coverage at premiums not reflecting additional underwriting. The bill directly affects health insurance issuers and consumers who purchase short-term limited duration health plans. By establishing this specific definition, the law clarifies the scope and characteristics of these temporary health insurance products.