ABOUT ICAPS
ICAPS assists organizations nationwide to control benefit costs and improve the administrative efficiency of their benefit plans. ICAPS provides a wide range of auditing and consulting services to private and public sector employers, health and welfare funds, accountants, benefit consulting firms and brokers.
ICAPS is committed to providing the highest quality audit and consulting services available. Because of its commitment, the staff consists of individuals who each have a minimum of 20 years of experience in the benefits industry. The range of experience includes claims processing, training, system analysis, auditing and management. This experience has been "hands on" in third-party administrators, insurance companies and HMOs.
ICAPS SERVICES INCLUDE...
- Audits of self-funded Health, Dental and Disability plans (Pre- and Post-Implementation)
- Audits of self-administered Health, Dental and Disability plans
- PPO and Point of Service audits
- Specific and aggregate claim audits
- Operational or Customer Service reviews
- Expert Testimony
- Audits of carve out plans for pharmacy and mental health
- Recovery Audits
ICAPS' primary focus is on conducting audits of insurance companies and third party administrators responsible for the administration and claims processing of employer sponsored plans. While the majority of the audits performed are for health plans, ICAPS has seen an increase in requests for audits of benefits which have been carved out or are stand alone benefits, such as dental, mental health, pharmacy, vision, and short- and long-term disability benefits.
ICAPS IS UNIQUE IN SEVERAL WAYS
- It has no inherent conflict of interest.
- Our primary focus is auditing; based on the audit findings, we can provide feedback on how your plan design compares to others in the industry. The audit findings will also reflect the compatibility of your plan design to your administrator's computer system.
- Every staff member has a minimum of 20 years in the industry, with experience in processing, auditing, system analysis, or management.
- Its staff has significant audit experience with PPOs, Point of Service (POS) plans, and HMOs, as well as the more traditional plan designs.
- The majority of ICAPS' staff have designations from the Health Insurance Association of America. Additionally, several staff members also have International Claim Association designations. As an organization, ICAPS is a member of: Twin Cities Claim Association, TCHRA (Twin Cities Human Resources Association), and Midwest Fraud Prevention Association.