This bill, introduced by Senators Cruz and Budd, aims to increase competition in health insurance markets by expanding access to short-term limited duration insurance plans. The legislation amends the Public Health Service Act to define and enable short-term health insurance policies with initial coverage periods of up to 12 months, and importantly, allows these plans to include renewal guarantees that let policyholders purchase additional coverage in the future at fixed premiums without additional medical underwriting. This would affect individuals seeking more affordable, temporary insurance alternatives, particularly those who are uninsured or in transition between jobs. The bill does not specify funding amounts or implementation timelines, as it primarily modifies existing regulatory definitions to permit insurance companies to offer this product category.
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