How do I get a Medicaid surety bond?
- Submit a Free Online Application, call 800-901-3099 or email us
- We provide a free quote
- Buy the bond
What is the cost to get a Medicaid surety bond?
The annual premium rates are often 1-2% of the bond amount. Our high volume allows us to provide the best rates.
How long will it take to get a Medicaid surety bond?
You can get an electronic copy the same day & the original bond in your hand by the next morning in most cases. The underwriting is typically a simple one-page application used to soft pull your credit, although occasionally additional information may be required.
What is a Medicaid surety bond?
Medicaid surety bonds are required by certain states of suppliers who accept Medicaid payments for durable medical equipment, prosthetics, orthotics and supplies. The bond’s purpose is to protect against billing fraud and abuse. The bond usually stays in place as long as you are licensed in that state.
Many states do not require these bonds. For states that have in the past, such as Florida, Texas and Minnesota, the bond amount has varied by state. If your state does not require a bond then there is no reason to get one. State regulations can frequently change so be sure to check with the state to see if a bond is required for your business.
Why do I need a Medicaid surety bond?
It is required for licensing by certain states to remain in compliance with the applicable laws & regulations set by that state.
When do I need a Medicaid surety bond?
Most often you will need to give the Obligee an executed bond before they will fully complete the licensing process.
What should I do with a Medicaid surety bond?
First, sign the original bond we send you as indicated by the included signature flags. Then send the complete, original bond to the Obligee along with any other paperwork they require.
Other names for Medicaid surety bonds:
They are sometimes confused with the federal DMEPOS surety bond. However Medicaid surety bonds are state licensing bonds.