How COBRA Insurance works?

This is a federal law that may allow you to temporarily continue health coverage offered by employers to covered employees, their spouses, former spouses, and dependent children when group health coverage would otherwise be lost due to end of employment. If you elect COBRA (Consolidated Omnibus Budget Reconciliation Act) coverage, you pay 100% of the premiums, including the share the employer used to pay, plus a small administrative fee.
The law generally applies to all group health plans maintained by private-sector employers with 20 or more employees, or by state or local governments. The law does not apply to plans sponsored by the Federal Government or by churches and certain church-related organizations. In addition, many states have laws similar to COBRA, including those that apply to health insurers of employers with less than 20 employees (sometimes called mini-COBRA). Check with your state insurance commissioner's office to see if such coverage is available to you.

Are there COBRA alternatives for health coverage?

If you decide not to take COBRA coverage available through your employer, you can enroll in a Marketplace plan. Losing job-based coverage qualifies you for a Special Enrollment Period. You must enroll in a marketplace health plan, within sixty days even if it’s outside the annual Open Enrollment Period.