There is a detailed discussion of the COBRA implications in the final stimulus bill at the link below (including a PDF of the actual relevant sections of the bill). They are discussing detailed examples, and the authors of the post seem to be responding well.

Unfortunately, I do not see anything about extending the 18 months rule, only about subsidizing the premiums. Even that will only be for 9 months (beginning in March), not forever.

I did find an article, a little older, that clearly says "The bill will keep the 18 month limit in place." While this is a slightly older article that predates the actual bill that was signed, I can find no evidence that they did anything with the 18 month limit.

I also found an AP article that is talking about the most recent bill. Again, it mentions the 18 month limit and only that the premiums will be subsidized, no mention of changing the time frame for eligibility.

Sorry.

(It does appear that a version of the House bill had a provision for changing the 18 months for long-term employees 55yrs or older with 10 years of service, but I'm unable to confirm whether this made it to the final bill or whether it is relevant to your particular situation: http://www.buckconsultants.com/buckconsultants/Portals/0/Documents/PUBLICATIONS/Newsletters/FYI/2009/FYI_02_05_09a.pdf )
Source(s):
http://blog.travisoft.com/2009/2/13/american-recovery-and-reinvestment-conf...
http://www.businessinsurance.com/cgi-bin/article.pl?article_id=27010
http://www.google.com/hostednews/ap/article/ALeqM5jOs-5h-KbakFdM6IXCakYJuV2...

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Unfortunately, you can not remain on COBRA unless there is a new "qualifying event". However, you may be eligible to convert your COBRA coverage to an individual policy from your insurance company if they offer an individual policy. You have 30 days from the termination date of COBRA coverage to request this individual policy.
New subsidy will also be of no help for you.
http://money.cnn.com/news/newsfeeds/articles/marketwire/0475582.htm

Just shop for a new health plan. They may be cheaper than COBRA and better coverage too!
Going with a higher deductible with a better established insurance company and good major medical plan is a better way of getting a lower premium, as opposed to going with a very low deductible with a plan that has many limited health benefits.

High Deductible Health Plans Would Be Good For Individuals and Families Who Can:
# Afford High Out-of-Pocket Expenses (deductibles on high deductible health insurance plans are generally $1000-$2000)
# Are in Good Health
# Generally Never Need Prescription Drugs
# Don't Plan to Get Pregnant (some plans have a one year wait before they cover maternity care)
# Don't Have Pre-Existing Conditions (again, there may be a waiting period)

Guidelines to Follow if You Choose High Deductible Insurance:
# Set Up a HSA to Pay for Your Out-of-Pocket Expenses
# See if Your Employer Offers a Plan Before Looking Into Private Insurance Companies (your employer may pay part of the premium)
# Shop Around and Compare Premium Costs
# When Shopping Around, Compare Costs by the Amount of the Deductible, What is Covered, the Lifetime Annual Benefit, and The Annual Premium

http://www.aetna.com/members/individuals/health/plan_details/California/mcoa_high_deductible_5000.html
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