Millions of people in America are insured by their employers because of group health insurance benefits that are provided at the time of employment. At the same time, there are many cases where the person loses health insurance benefits provided by the company. Ideally, when their services are terminated or when the company goes bust. In such a case the best option is to go for COBRA. It is an acronym for Consolidated Omnibus Budget Reconciliation Act, which provides insurance to employees that have been terminated.