On the assumption that the distribution function of ions heated by ion cyclotron resonance absorption is essentially isotropic, analytical and semi-analytical approximations are derived for the distribution function. The result is used to evaluate the weighted velocity space averages of the distribution, which determine the fusion reactivity and the collisional power transfer to plasma background particles, and to study their scaling with RF parameters such as absorbed power and perpendicular wave number. The importance of higher order finite Larmor radius effects on the formation of RF induced high energy tails is particularly emphasized. Comparisons based on full 2-D numerical calculations show good agreement with the semi-analytical results.