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The Healthy Indiana Plan (HIP) is a health insurance program for qualified adults aged 19 to 64. It offers health coverage for a low, predictable monthly cost. Every HIP member has a POWER Account, a special savings account designed to incentivize members to stay healthy and use services in a cost-efficient manner. The first $2,500 of medical expenses for covered services are paid with the POWER Account, with the state contributing most of the amount. Members with HIP Basic or HIP Plus plans make monthly POWER Account contributions, which are based on income.
| Characteristics | Values |
|---|---|
| Full Form | Personal Wellness and Responsibility Account |
| Coverage | First $2,500 of medical expenses for covered services |
| Cost | Monthly contribution based on income |
| Payment Methods | Bank account deduction, automatic payment, credit or debit card, bank account number, MoneyGram Location, by mail, over the phone, online, via payroll deduction through the member's employer, in-person at designated retail locations |
| Rollover | Unused amount can be rolled over to the next year, reducing monthly contribution payment |
| Partial Refund | Partial refund available if the member leaves the HIP program |
| Eligibility | Indiana residents between the ages of 19 and 64 whose family incomes are less than approximately 138% of the federal poverty level and who aren't eligible for Medicare or another Medicaid category |
| Benefits | Better coverage, predictable costs, incentives for preventive care, no copays for most services |
| Cost-Sharing | Copayments and POWER Account contributions are currently paused |
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POWER Account contributions
The amount of the POWER Account contribution is based on the member's income and can range from $1 to $20 per month. For members with higher incomes, the contribution may be higher, and smokers may also have an increased contribution amount. Members can pay their POWER Account contribution in various ways, including by mail, phone, online, or in person at designated retail locations.
It is important to note that members who do not make their POWER Account contributions on time may have their benefits reduced or be removed from the program. However, if a member chooses to leave the program early, they will receive a refund of their contributions that were not spent on healthcare costs. Additionally, if a member's annual healthcare expenses are less than $2,500, they may rollover their remaining contributions to reduce their monthly payment for the next year.
Overall, POWER Account contributions are an essential part of the Healthy Indiana Plan, as they help members manage their healthcare costs and ensure they have access to the benefits provided by the plan.
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Monthly payments
The Healthy Indiana Plan (HIP) is a health insurance program for qualified adults. The plan pays for medical costs for members and can include dental, vision and chiropractic. It also rewards members for taking better care of their health.
The POWER Account is a special savings account designed to incentivize members to stay healthy and use services in a cost-efficient manner. Every Healthy Indiana Plan member gets a POWER Account, which is set up with $2,500 in their name. The first $2,500 of medical expenses for covered services are paid with the POWER Account. The state will contribute most of the amount, but the member is also responsible for paying a small portion of their initial healthcare costs. The member's contribution is an affordable, monthly payment based on their income. This contribution can be split when spouses are both enrolled in HIP.
HIP Plus members make a monthly contribution to their POWER Account to help cover initial health expenses. The amount you pay for your POWER Account Contribution (PAC) each month varies by person. You can learn more about the payment tiers in the member handbook. You need to pay your monthly PAC on time to keep your benefits. If you do not, you may have reduced benefits.
Monthly POWER account contributions are determined by family income compared to the federal poverty level. Members with incomes above the poverty level who choose not to make their POWER account contributions will be removed from the program. Members with incomes below the federal poverty level who do not make their contributions will be moved to the HIP Basic plan.
You can make your HIP monthly payment by logging into your MHS Member Portal Account. Online payment options include bank account deduction, automatic payment, credit or debit card, or bank account number. You can also pay over the phone or at a MoneyGram Location.
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Rollover
The Healthy Indiana Plan (HIP) is a health insurance program for qualified adults. It is offered by the state of Indiana and covers medical costs for members, including dental, vision, and chiropractic. The plan covers Hoosiers aged 19 to 64 who meet specific income levels.
Every HIP member has a POWER (Personal Wellness and Responsibility) Account. This is a special savings account with an initial $2,500 in the member's name. The first $2,500 of a member's medical expenses for covered benefits is paid with this account. The state pays most of this amount, but the member is also responsible for paying a small portion of their initial healthcare costs. This contribution is called a POWER Account Contribution (PAC).
If a member's annual healthcare expenses are less than $2,500, they may roll over their remaining contributions to reduce their monthly payment for the next year. This is known as a rollover. Any money that rolls over can be used toward the next year's PAC, reducing how much money is owed for HIP Plus next year. The state will double the rollover funds if the member completes preventive healthcare services.
HIP Basic members have the opportunity to move to HIP Plus if they earned a rollover in the prior calendar year. If a member chooses to leave the HIP program early, they have the right to obtain a partial refund of their POWER Account Contribution.
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Refunds
The Healthy Indiana Plan (HIP) is a health insurance program for qualified adults. The plan pays for medical costs for members and can include dental, vision, and chiropractic. The first $2,500 of a member's medical expenses for covered benefits is paid from their POWER Account, a special savings account.
If you choose to leave the HIP program, you have the right to obtain a partial refund of your POWER Account Contribution. Any contributions not spent on healthcare costs will be returned to you. However, a penalty is deducted if an individual is disenrolled due to non-payment or withdrawal from the program without obtaining other coverage.
If you are a HIP Plus member, you will not have copays for most services. The first $2,500 of your healthcare expenses each year are paid from the POWER Account. You will pay a small portion of your POWER Account each month, known as a POWER Account Contribution (PAC). Refunds for overpayments will be issued to members during the POWER Account reconciliation process, within 120 calendar days after the end of the member's benefit period.
If you are a HIP Basic member, you will have to pay a fee every time you go to the doctor or fill a prescription. You will also receive an invoice in the mail each month for your POWER Account contribution and must pay the invoice in full before the 1st of each month for coverage the following month. If you have money left in your POWER Account after 12 months, you can roll over the funds to lower your POWER Account Contribution for the next year.
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Eligibility
Within the HIP program, there are different plans available, including HIP Basic and HIP Plus. The type of plan an individual is eligible for depends on their income level and whether they make POWER account contributions. For example, individuals with incomes above the poverty level who choose not to make POWER account contributions will be removed from the program, while those with incomes below the poverty level who don't contribute will be moved to the HIP Basic plan.
HIP Basic members are given the opportunity to re-enroll in HIP Plus at the end of their annual cycle or plan year. They can also move to HIP Plus if they earned a rollover in the previous year. Additionally, if HIP Basic members received preventive care and did not use all of their POWER Account funds, they may receive a discount of up to 50% on the cost of enrolling in HIP Plus.
To maintain eligibility for HIP Plus, members must make timely monthly POWER Account contributions. These contributions are based on income, with five affordable amounts ranging from $1 to $20. If an individual's income increases or decreases, their contribution amount will be adjusted accordingly.
It is important to note that eligibility for HIP and the associated plans may be subject to additional factors and requirements, and individuals should refer to the official sources for detailed information.
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Frequently asked questions
The HIP Power Account is a special savings account that is part of the Healthy Indiana Plan (HIP) health insurance program. The account is designed to incentivize members to stay healthy and use services in a cost-efficient manner.
The first $2,500 of a member's medical expenses for covered benefits are paid with their POWER Account. The state pays most of this amount, while the member contributes a small, affordable portion based on their income. If a member's annual healthcare expenses exceed $2,500, the first $2,500 is covered by the POWER Account, and expenses for additional health services are fully covered at no extra cost to the member.
Members make monthly contributions to their POWER Account, which can be paid through various methods such as online payment, mail, over the phone, or in person at designated retail locations. The contribution amount is based on the member's income and can range from $1 to $20 per month.
If a member chooses to leave the HIP program early, their contributions that have not been spent on healthcare costs will be returned to them. They may be eligible for a partial refund of their POWER Account Contribution.
