The Florida Agency for Health Care Administration (AHCA) requires an Assisted Living Facility Surety Bond. The required Bond amount is $5,000 or two times the trust fund, whichever is greater. This Bond ensures that nursing facilities will properly and honestly manage patients’ funds, if agreed to do so by the patient.
This Bond helps ensure that the facility will truly hold separately, in trust, all residents’ funds deposited with the Principal (the assisted living facility) and will administer said funds on behalf of the residents in the manner directed by Chapter 429, Part I, of the Florida Statutes, and will render true and complete accounts to the residents, the depositors, and the AHCA when requested, and upon termination of each said deposit, will account for all funds received thereunder, expended and held on hand.
Call us at (855) 952-6633 to speak with a Surety Bond Expert
What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.