Friends, I have a situation and need some advice.

I am completing my 6 years on H1B in Sept 2017 and I have an approved i140 (approved last year) with which my employer has filed an extn on H1B which is currently in progress (filed in May 2017 under standard processing - still in "Case received" status).

I am hoping this will get approved but in case of any negative decisions, i need to understand how it will work and what would be my next steps mainly because we are expecting our baby in Nov 2017 and in the event of any rejection late October/Nov, my wife will not be in a position to travel to India and I am assuming I will lose my medical insurance as well because that's from my employer and with no valid visa, no job and with no job here, no insurance I guess.

1. So in this case, what should be my next steps? Any provision under law by which i can extend the stay citing this personal reason that prevents me and my family from leaving US immediately?
2. Any way i can work with my employer to extend my stay here in the event I cannot leave US because of the delivery in hand?
3. Anything can be done to keep the insurance going for delivery or that will be gone the moment I lose my Visa/Job here in case of Extn rejection?

Please share your thoughts/ideas on this. I just want to make sure I have certain things covered and have them sorted out in case the decision of the extn is not in my favor (Never came across this situation in the last 6 years).

Raj Alex