$500? Ours was $2800/mo for a family of three and this was 2018 (Not FANG, big pharma)

Yes the original plan was great. No, we didn't need a plan that great. No we couldn't "downgrade". With the bigger income suddenly gone, coming up with $2800/mo in cash was a huge problem. COBRA is useless for many/most, unless your coverage is shite and the cost to the employer low.