A 60 day short-term health insurance policy would probably be cheaper, but it might not be the best thing for you to do. There are several factors that would determine if making the choice to save money on your insurance premium for 60 days would be in your best interest. One of the primary things you need to consider is the issue of creditable coverage, if you have any pre-eisting medical conditions. Since your lapse in coverage will only be 60 days, actually 59 because February only has 28 days, you will not have a lapse in coverage as defined by federal HIPAA regulations. However, purchasing a short term health insurance policy could disqualify you from HIPAA eligibility in the event that something unforeseen was to happen and you were unable to be added to the group health plan of your new employer. Not all short-term health plans are considered creditable coverage, so you would need to be very cautious about what you purchase. We would suggest waiting to find out how much your COBRA payment will be, and then compare it to the cost of various short-term health plans. Unless the savings is substantial, it would probably be in your best interest to make the COBRA payment. Once you receive your COBRA notification letter, you will have 60 days to decide if you want to accept it. By that time, you will be qualified for your new health plan, so there will no longer be an issue. Even though you have 60 days to decide on your COBRA, that insurance company will not pay for any claims unless you pay the premium.