This legislative proposal, titled the COMPETE Act, aims to foster competition within health insurance markets by amending the Public Health Service Act. Its primary focus is to establish a clear and updated definition for short-term limited duration insurance (STLDI). Under the proposed definition, STLDI plans must feature an initial contract expiration date not exceeding 12 months from the original effective date. Crucially, the bill permits these plans to include a renewal guarantee , enabling policyholders to purchase subsequent policies at a future date without undergoing additional underwriting, thereby ensuring continuity of coverage under certain conditions.