Yep, that's true! Thanks for adding that, it is important. As long as you can put enough money aside to cover the entire COBRA period, this is indeed the best "play" when offered COBRA, unless you're sure you're gonna need it from the beginning (in which case you may as well just sign up to begin with—less hassle that way). If you don't end up needing it, you basically just got free health insurance for a few months.