The Florida Agency for Health Care Administration has required the obtainment of the Leased Nursing Home Surety Bond. The required bond amount is equal to more than the total of 3 months Medicaid payments to the facility computed on the basis of the preceding 12 month average Medicaid payments to the facility.
This bond helps ensure that the facility and its employees faithfully conform to and abide by the provisions of all the above statute, implementing regulations and bulletins, together with all amendatory and supplementary acts. The facility should honestly and faithfully apply the funds received, and faithfully and honestly perform all obligations and undertakings made pursuant to the provisions of such statute in the conduct of providing Medicaid services by facility and by the facility’s agent and employees. This bond ensures that nursing homes will properly and honestly manage patients’ funds, if agreed to do so by the patient. To learn more about the state’s requirements, please click here.
This bond provides clients a peace of mind knowing that the nursing home has been backed by a third party surety company. The surety company will payout if you are found at fault for a claim on your bond. Qualification for this bond will require a credit check. The rate will depend on the credit worthiness of the applicant and will carry a rate from 1% to 15% of the Bond amount (calculation requirements are above). Please call us at 855-952-6633 to speak with a friend Surety Bond expert.
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.