The Florida Patient Trust Surety Bond is required by the State of Florida Agency for Health Care Administration. Florida Statutes requires each nursing home to post a surety bond, in an amount of either twice the average monthly balance in the patient trust fund during the prior year, or $5,000–whichever is greater.
What are the requirements to operate a nursing home in the state of Florida?
The Florida Agency Health Care Administration has set the following as some of the requirements to be met before anyone who wishes to put up a nursing home.
- A completed application form which must contain pertinent information such as data about the licensee, contact person, property owner, management company controlling interests, personnel, bed counts, etc.
- General and professional liability insurance coverage
- Zoning approval from local government
- Fire safety inspection report
- A Florida Patient Trust Surety Bond – this bond is needed for all licensees who hold resident funds in a trust. This is to ensure the state that the nursing home will comply with all rules and regulations and handle the resident’s funds professionally.
Where can I get a Florida Patient Trust 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.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Florida Patient Trust 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.
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.