Oregon Patient Trust Bond

An Oregon Patient Trust Bond is a type of surety bond required by the Oregon Department of Human Services (DHS) for certain facilities that handle resident funds. These facilities include:

• Nursing homes
• Assisted living facilities
• Independent living facilities
• Adult care homes
• Group homes

Essentially, any facility that provides housing and care for residents who may need assistance managing their finances requires a Oregon Patient Trust Bond.

The amount of the bond is based on the number of residents in the facility. The minimum bond amount is $10,000, and the maximum bond amount is $50,000.

The cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms.

How to Get an Oregon Patient Trust Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Oregon Patient Trust 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.

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What is the purpose of the Surety Bond?

The purpose of the bond is to protect residents’ financial assets from misuse or misappropriation by the facility. The bond acts as a financial guarantee that, if the facility mishandles a resident’s funds, the resident will be compensated for their losses. If the surety company pays a claim on the bond, it will seek restitution from the bond principal (licensee).

Helpful resource: Oregon Department of Human Services – Long-Term Care Regulation: https://www.oregon.gov/odhs/licensing/adult-foster-homes/pages/default.aspx