The Place command in the File menu lets you import a Word file into InDesign. In the Place dialog box, make sure that Show Import Options checkbox is checked.
In the Microsoft Word Import Options dialog box, ensure that the radio button, Preserve Styles and Formatting from Text and Tables in the Formatting section is selected. This will ensure translation of most of the Word styles into InDesign.
Click OK to get the Place cursor in your InDesign document and drag to draw a text frame and place the Word document inside the text frame.
Most of the Word formatting does indeed carry over into InDesign. Things such as bullets and numbering, basic font settings, leading and paragraph styles do carry over just fine.
However, things such as WordArt, highlights, overridden Word styles and image formatting might not carry over well.
Tables carry over well but you might need to readjust the row and column sizes.