What is the purpose of a Florida Patient Trust Bond?
The Florida Patient Trust Bond is required for nursing homes as an assurance that patient trusts will be managed properly. The required bond amount varies, but it must be either twice the average monthly balance of the patient trust fund in the preceding year or $5,000, whichever is greater.
In addition to the surety bond the following items should also be submitted.
- Completed application form
- General and professional liability insurance
- Documentation from the appropriate local government office showing the the applicant has met zoning requirements
- Proof of Property Occupancy
- Medicaid lease bond
- Fire safety inspection report
- Copies of any civil verdict or judgement involving the applicant within the 10 years preceding the application that may be related to medical negligence, etc
- Plan for quality assurance and for conducting risk management
- Financial ability to operate
How do I obtain a Florida Patient Trust Bond?
Surety Solutions Insurance Services Inc was established in 2003. Although our headquarters are located in California, we are actually licensed in all 50 states. We have also partnered with several surety markets to ensure that we would only offer the best rates for all our clients. Our application processing time is also very fast, with some applications taking just a business day to get approved!
If you wish to get this surety bond from us, please fill out and submit an online application form. You will then be contacted by our licensed agents who will give a no-obligation quote for your bond. If you find the price to your satisfaction, just pay the said amount and sign all the paperwork. We will then send the surety bond through USPS Priority Mail or overnight delivery.
With an A+ rating from the Better Business Bureau, you can only expect the best service from us here at Surety1.