ID Experts Launches FraudStop MIDAS Edition

Medical identity theft and fraud are uniquely damaging crimes. When someone pretends to be you to receive health care, your lifetime medical records become contaminated with incorrect information. In the future, that could lead to a misdiagnosis based on a condition you don’t have, a prescription mistake with a medication to which you’re allergic, and other dangerous or inappropriate medical treatment.

This week, ID Experts launched FraudStop MIDAS Edition, a consumer protection service that for the first time goes beyond financial accounts to provide visibility into a consumer’s actual healthcare transactions and medical identity.

Bob Gregg, CEO of ID Experts, explained the importance of the new offering at launch: “In the event of a healthcare data breach, credit monitoring alone services are a placebo – FraudStop MIDAS Edition is actual medicine. The industry has known for years that we wanted to do more. FraudStop MIDAS Edition finally makes that possible, with a solution that goes beyond your financial accounts to protect your total medical identity.”

FraudStop MIDAS Edition will also now be offered as an alternative to credit monitoring in cyber and privacy loss protection insurance policies offered by BCS Insurance.

For consumers, FraudStop MIDAS Edition works just like ID Experts’ current MIDAS service. Individuals with the protection service will receive text or email alerts any time a new claim is made against their medical identities. Members can review the claims information – presented in clear, easy-to-understand language – and approve the claim or flag it if they don’t recognize it. If fraud has occurred, ID Experts will resolve the issue and help victims reclaim their identities.

For payers, once a data breach has occurred FraudStop MIDAS Edition offers a “quick start” option to quickly protect customers. As part of ID Experts’ complete data breach services, payers can offer potentially affected individuals the chance to enroll in MIDAS – either in addition to or as a replacement for traditional credit monitoring. ID Experts will enroll those members and begin securely providing their claims information for review in a simple easy to understand format.

For more information about FraudStop MIDAS Edition, please contact us.