Medicare Part D insurer Indy Health Insurance Company, Inc. (IHIC) was placed under an order of rehabilitation by a circuit court in Pulaski County, Arkansas effective March 18. IHIC is an Arkansas domiciled company that provided Medicare Part D plans in Arkansas, Pennsylvania, West Virginia, Illinois, and Georgia. The insurer experienced significant unfavorable claims development.
According to the notice posted on their website, IHIC stopped offering their Medicare Part D drug plan March 23, 2021. Existing Part D members’ coverage through Indy Health also ended on March 23. As part of the transition, IHIC Part D members will be temporarily enrolled in Medicare’s Part D LI-NET program administered by Humana (LI-NET) for a retroactive effective date of March 1, 2021. IHIC beneficiaries will have temporary coverage through the LI-NET program until July 31 but will need to choose another Part D program by that time.
According to the March 2021 enrollment files, IHIC Part D members by state:
| State | Part D Enrollment |
|---|---|
| Arkansas | 10,726 |
| Georgia | 7,343 |
| Illinois | 9,469 |
| Pennsylvania | 8,509 |
| West Virginia | 2,098 |
| Total | 38,145 |