The bond is intended to protect the Medicaid program and the Florida Agency for Health Care Administration (AHCA) in the event that the nursing home defaults on its financial obligations. For ex
ample, if the nursing home fails to pay its employees or vendors, or if it misappropriates Medicaid funds, the AHCA can file a claim against the bond to compensate the injured parties.
The amount of the bond is equal to the total of 3 months of Medicaid payments made to the facility using the previous 12 month average of payments made. The bond must be issued by a surety company that is licensed to do business in Florida.
The bond is a valuable tool for protecting the public and ensuring that nursing homes operate in a responsible manner. It is also a requirement for licensure, so any business owner who is planning to lease a nursing home in Florida must purchase a bond. Furthermore, the bond amount must be in an amount that is not less than the total of 3 months Medicaid payments to the facility. The amount is computed on the basis of the preceding 12 month average Medicaid payments to the facility.
The surety bond exists to ensure that the nursing home practices within the law. It also ensures that faculty and staff abide by all laws and regulations pertaining to them. In the event the nursing home acts unlawfully, a claim can be filed on the bond.
How to Obtain a Florida Leased Nursing Home Surety Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.2
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Florida Leased Nursing Home Surety Bond will be shipped to the bond applicant.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2 -Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.
How to Get Your Florida Leased Nursing Home Surety Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.