Your insurance coverage ends the 1st of the Month following your date of termination. For example, if you were terminated June 6th (or June 30th ), your coverage terminates July 1. At that point your employer is required to send you a Notice of COBRA Election form within 14 days of losing coverage. You have a 60 day window to make the election.

That COBRA offer letter allows you to continue coverage for up to 36 months, retroactive to the date you lost coverage (July 1, in the above example). COBRA options always apply to medical coverage, and most often apply to dental and vision coverage as well. Though, these latter coverages are only eligible for an 18 month coverage period. Only those people covered on your plan at termination will be eligible for COBRA.

The cost for COBRA is whatever your employer was/is paying for your current coverage plus 2% (+10% if your employer has fewer than 20 employees and is subject to CalCOBRA). The exact costs will be outlined in the COBRA offer letter you receive after termination.

In addition to COBRA, people typically have a few other options:

Sign up for an individual plan with Covered California (www.coveredca.com). If you anticipate being unemployed for a longer period and having a corresponding reduction in income, you may be eligible for a premium subsidy here. There are no health questions and no pre-existing condition limits, so this can be a good option. By going to the above link and putting in your information, to include estimated income, you can get an idea of the costs (net of subsidy, if applicable). Contact Peters & Milam if you need help.
Join a spouse/domestic partner’s plan if they have coverage through their employer. Your loss of coverage opens a window for you to come on that plan. Even if there is no premium subsidy, this strategy at least allows your spouse to pay with pre-tax dollars.
If you have a new job lined up, you can simply join that plan. There often can be a gap in coverage in these situations. You may want to use the COBRA election period of 60 days to help bridge this gap, or elect COBRA for this short period.
If you are Medicare Eligible, you most likely should go on Medicare with a supplement (or Advantage plan) and not elect COBRA