The COMPETE Act amends the Public Health Service Act to define "short-term limited duration insurance.
The COMPETE Act amends the Public Health Service Act by adding a definition for "short-term limited duration insurance." This plan provides health insurance coverage under a contract with a health insurance issuer, with an expiration date not more than 12 months after the original effective date of the contract. It may include a renewal guarantee allowing a policyholder to purchase another policy at a future date at a premium that does not reflect additional underwriting. The bill aims to ensure competition in health insurance markets.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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