Signed up for B/D/G, but..

I signed up for B/D/G (HD) to start in April. I am planning to give notice the end of March and have a one or two week overlap.

i'm 67 with credible (creditable?) coverage.

HOWEVER, I am hearing that there will be layoffs in the next week or two.

if I am included on the list, what are my options? can I be on cobra for a month or two without penalty?