Washington Health Care Service Bond

WashingtonA new bill was enacted in the State of Washington relating to health care services. The new bill, which is referred to as SB 5480 regulates discount plan organizations that offer plans to consumers for health care services. SB 5480 requires a surety bond in a minimum quantity of $35,000. As an alternative to the surety bond, cash securities or other financial instruments are authorized to be deposited in the same quantity.