The Arkansas Insurance Department has taken control of Indy Health Insurance Company, Inc. (IHIC). According to a press release from the Arkansas Insurance Department this was due to “experiencing significant unfavorable claims development during the first quarter of 2021, IHIC was unable to provide regulators with a viable plan to address the unexpected losses.”
This will affect the Medicare recipients who have Part D with Indy Health.
If you, or a loved one, currently have a Part D plan with Indy Health, expect a letter from the Centers for Medicare and Medicaid Services (CMS). This letter will notify you that you qualify for a special enrollment period to change your Part D plan.
Area Agency on Aging of Southwest Arkansas case managers and SHIIP counselors are already working with SHIIP to provide the most effective services to our clients that will be affected by this change. Case Managers and SHIIP Counselors started contacting clients today to set up appointments for enrollment in a new plan.
The full press release from the Arkansas Insurance Department can be found here.
