That just means that it is available to you -- not that they are going to subsidize it.
What they left out was that the company could reject you as a customer if you had a pre-existing condition. (This was before the ACA took effect.) They can legally do this because COBRA does not apply to grad students.
Fortunately, Oregon at the time had a state-subsidized health insurance plan called OMIP for people that were rejected by private health plans. The premiums weren't cheap, but they weren't worse than equivalent plans. Eventually OMIP was superceded by the ACA marketplace.
However, my Cobra eligibility died when the acquiring company cancelled their health care and moved everything to India.
> In the midst of a global health crisis of unknown duration, we want to limit the burden of healthcare costs. In the US, we will cover 12 months of health insurance through COBRA. In all other countries, we will cover health insurance costs through the end of 2020. This is because we’re either legally unable to continue coverage, or our current plans will not allow for an extension. We will also provide four months of mental health support through KonTerra.
https://www.cnbc.com/2020/05/05/airbnb-to-lay-off-nearly-190...
