Creditable Coverage

Creditable coverage is health insurance coverage for which you are able to receive credit toward the waiting period on preexisting conditions on a new policy.

(Credible Coverage is the improper pronunciation of Creditable Coverage.)

Before the implementation of the Affordable Care Act (aka Obamacare), if you bought health insurance, there would be a waiting period (as much as 12 months or more) before the plan would cover a preexisting condition.

Also, medically underwritten individual coverage could have excluded preexisting conditions for adults or turn down your application even if you had creditable coverage. This practice  ended on Jan 1, 2014 when the Patient Protection and Affordable Care Act of 2010 (Obamacare) was fully implemented.
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