I recently got screwed over... I mean fired by Kroger.  I received by mail the Cobra info packet.  It was very cost prohibitive so I declined.  You need to decide how much coverage you want/need.  If you have conditions right now, then maybe Cobra is the way to go.  If you just want insurance for the rare possibility you have a heart attack or break a bone, there are cheaper alternatives out there.  But the have higher deductables.  Also, remember that ObamaCare is coming soon so go read about that...