Community-Based Independence for Seniors Act This bill establishes a Community-Based Institutional Special Needs Plan demonstration program, through which the Centers for Medicare & Medicaid Services (CMS) shall target home- and community-based services to low-income seniors who are unable to perform two or more activities of daily living and are eligible for Medicare Advantage (MA) but not for Medicaid. An MA plan that is selected to participate in the program must use certain payments from CMS to provide those beneficiaries with services and supports such as homemaker services, home-delivered meals, transportation services, respite care, adult daycare, and certain equipment. The bill establishes a special election period during which an eligible beneficiary may switch to an MA plan that participates in the program.