What it is
COBRA covers employers with 20 or more employees. You elect within 60 days of coverage ending or of receiving the election notice, pay up to 102% of the group premium, and coverage can be retroactive. Family coverage continues on the same terms after divorce, death, or a child aging out.
What to do about it: Compare the COBRA premium against a marketplace plan with a subsidy inside the same 60-day window. The subsidy is often the cheaper route, and the window is the same.
Plain-language description of US practice, not legal, tax, or financial advice. The paired guide carries the citations, dates, and thresholds; the state pages carry the local windows.