Effen Posted August 6, 2014 Posted August 6, 2014 Has anyone had one of their health fund clients do a HIPPA self-audit? The attorney for one of my clients is recommending they retain a firm to perform a HIPPA audit. The idea is to do self audit in order to minimize fines/penalties if the IRS/DOL came in for a real audit. This is a self funded fund with around a $5 million in assets and 300 members. It all sound reasonable except the only people they have found who will do the audits are the big national firms and they want $50K to do the audit. It all seems like overkill to me, but I am in no position to question the attorney. Has anyone else gone through the process? Are there cheaper alternatives? Are these worthwhile for a fund this size? The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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