As you can tell, there are more questions about COBRA other than those related to quitting a job. There are a number of qualifying events that allow the employee, the employee's spouse, and the employee's dependents to continue health coverage. There are, however, a couple more circumstances pertaining to COBRA that warrant consideration.
First, not everyone who quits a job or is terminated actually qualifies for COBRA. If a separation from an employer is based on gross misconduct, COBRA does not apply. This gives employers an effective way to avoid COBRA issues, much in the same way employers claim gross misconduct in effort to deny unemployment insurance claims.
Another circumstance where COBRA does not apply is in cases where an employer has fewer than 20 employees (including part time workers). In these cases, some state laws might provide alternative solutions.
Finally, the last consideration is money. Health insurance costs a lot more now than it did in 1985, to the extent that even with employer contribution coverage is almost cost prohibitive. As premium costs continue to skyrocket, COBRA becomes meaningless for a growing number of people who simply cannot afford it.