Steven771- Your company is required to give you 60 days from the time your employment ends, or the time you are given your COBRA election forms, whichever is later. If your 60 days has passed, they are not required to extend your election period.
However, if you waive your COBRA continuation, and your 60 days has not expired yet, you do have the right to change your mind, at which point they will be required to give you the coverage.
Hope this helps.
Joe