What is the purpose of a New York Ambulette Provider Bond?
The New York Ambulette Provider Bond is required by the New York Office of the Medicated Inspector General. The purpose of the surety bond is for financial security. In case the provider will go out of business or change ownership while still having debts to the Medicaid program. The bond is a requirement to participate or continue enrollment in the Medicaid program for providers. Where claims submitted for payment are expected to exceed $500,000 per year or $42,000 per month. Applicants must submit their bond prior to enrollment. The ambulette provider bond costs $100,000 per year, per applicant or $25,000 per year for each ambulette owned or used by the applicant. Whichever amount is lower.
How do I obtain a New York Ambulette Provider Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). When the paperwork is completed and the bond premium has been paid. The bond will be issued and sent out the same or following day. We offer shipping via USPS Priority Mail or your preferred expedited shipping method(for an additional cost).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1), are available to help you. The process has never been easier with Surety1, we work with over a dozen “A” rated surety markets. This ensures that we will 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.