S. 3418 — Introduced in Senate

II 119th CONGRESS 1st Session S. 3418 IN THE SENATE OF THE UNITED STATES December 10, 2025Mr. Cruz (for himself and Mr. Budd) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To ensure competition in health insurance markets. 1. Short title This Act may be cited as the Competition and Openness in Markets to Promote Efficiency, Transparency, and Enhanced affordability Act or the COMPETE Act. 2. Short-term limited duration insurance Section 2791(b) of the Public Health Service Act (42 U.S.C. 300gg–91(b)) is amended by adding at the end the following: (6) Short-term limited duration insurance The term short-term limited duration insurance means a plan providing health insurance coverage pursuant to a contract with a health insurance issuer— (A) that has an expiration date specified in the contract that is not more than 12 months after the original effective date of the contract; and (B) which may include a renewal guarantee that permits a policyholder to elect to purchase, for periods of time following expiration of the initial contract, another policy or policies at some future date, at a premium that would not reflect any additional underwriting. .