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.
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.
To obtain a Florida Patient Trust Surety Bonds, all you need to do is take a few minutes to fill out our free online application! Within one business day one of our licensed agents will contact you with a no-obligation quote for the price to obtain your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The Florida Patient Trust Surety Bonds must be renewed annually, as the bond form requires an expiration date. Approximately 2 months prior to your bond’s expiration date, our renewal agents will send you an invoice for renewing your bond for the next year. Once the renewal premium payment is processed, we will send you a Renewal Bond (same bond but with new term dates) that you will then submit to the AHCA.
The surety bonding experts at Surety Solutions Insurance Services, Inc. (Surety1) are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.