Looks like unemployment is rising, 6.1% according to reports last week.  If you're company is downsizing it's a good time to shop for private health insurance and understand the basics of COBRA coverage:  Terry Savage provides information on the Consolidated Omnibus Budget Reconciliation Act.

COBRA coverage extends for 18 months in most cases. It's extended to 29 months for a disabled employee, or 36 months for those who are widowed and the spouse was covered, a dependent whose covered parent died, or the spouse/ family of one who opted for Medicare. You must pay the full cost -- 102 percent of the cost, to be exact, to cover the extra expense of handling your account! The coverage extends to your spouse and family if they were previously covered under the company plan.

You don't have a lot of time to think about the alternatives because you must elect COBRA within 60 days of being notified of the "qualifying event" -- receiving your termination notice, for example.

That's why it's so very important to understand how COBRA coverage works -- and your alternatives. The best place to start is www. CobraLearning.com -- a Web site developed by eHealthInsurance .com that offers information and quotes on individual health policies, no matter where you live.