What is a "letter of credible coverage" in terms of health insurance?

I want some temporary health insurance till I can get employment. For some one who is 25 and does not have any health issues, body mass index of 20 I was told catastrophic coverage is best when paying for health insurance on your own. I am in Florida, U.S. Some plans with Blue Cross Blue Shield have a premium of about 140/per month with a 1500$ deductible as indicated below.
Predictable Cost
Plan 3
Family physician copayment plan
No deductible for in-network well care
0% Coinsurance for in-network services
Plan Type: Predictable Cost
Deductible: ,500/ ,500
Copay: Family Physician: copayment Specialist: copayment
Coinsurance: 0%
Out-of-Pocket: ,500 / ,500
Other plan has a premium of 19/month with less features.
If I choose the plan which is 19/month I was told when I get employed my employer’s health insurance will not consider my 19/month plan to be credible coverage. What does that mean? Can anyone please clarify?
The plan which is 19/month is
as follows
Physician Office Services (Coverage for Surgical Services only)
In-Network Family Physician: CYD(Calendar Year Deductible) + 20% Coinsurance
In-Network Specialist: CYD5 + 20% Coinsurance
Out-of-Network Office: Visit CYD + 40% Coinsurance
In-Network e-Office: Visit co-payment
Out-of-Network e-Office: Visit CYD + 40% Coinsurance
The CYD is 1000 for in-network.
Can anyone please advise how can I choose catastrophic coverage only which can be considered credible coverage?



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  2. The plan that is creditable (not credible) must be:
    Group Plan (employer or state/federal coverage),
    Individual Plan, or Military.

    Benefits must include:
    Inpatient Hospital Care, Outpatient Hospital Care, Physician Services, or Lab and X-Ray Services.

    When you sign up for your new insurance with your new employer, there could be a waiting period for coverage of a pre-existing condition. Your "creditable" insurance would be counted toward that waiting period. EG:You have a creditable insurance for 12 months. You sign up with a new employer and have a 12 month waiting period for asthma. Your creditable coverage would effectively count toward this waiting period and afford you coverage right away with the new carrier.

    However, if you are healthy and have no pre-existing conditions, do not see a physician on a regular basis and only wanted coverage for accidents or castastrophic conditions, it would not necessarily make sense to have a creditable insurance if the premiums are high.

  3. mbrcatz17 says:

    You go buy your medical insurance policy from a local agent, telling them you want a plan that will work as credible coverage.

    That letter means, you’ve had comprehensive coverage from X date until Y date, with no lapse. I’m trying to think of a reason why a BCBS plan with a $1500 deductible would NOT qualify for credible coverage, but it must have something to do with the plan. I have no idea what "predictable cost" means.

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