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No, you need to still be employed August 1 to have coverage through the month. You should still be eligible for COBRA, though, so you have an option to pay your way into being covered for August. (You’d pay your portion plus the employer’s cost.)
If your last day is the first of the month, they have to cover you for that entire month.
The norm is for the company to send a list of everyone to be removed at the first of the next month. Even if they don’t do it in time, it’s typically backdated. So most companies will cancel you August 1 if you leave July 1 (unless you do cobra) even if they don’t send the request in before August 1. Some companies end your coverage the day after you terminate employment though so you really need to check with your benefits person at the company.