Medicare & Medicaid (CMS Bond)
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- How much does a Medicare bond cost?
- Who needs Medicare/Medicaid bonds?
They are required of businesses that bill to Medicare/Medicaid such as DMEPOS (durable medical equipment, prosthetics, orthotics and supplies) suppliers and personal care agencies. The bonds are required by the Center for Medicare & Medicaid Services and can also be referred to as CMS bonds, DME bonds, DMEPOS bonds or patient trust bonds.
- Where can I find a DMEPOS bond form?
We have these forms on file. The obligee may provide you a copy. In this case, we recommend you confirm the form matches what we have with your agent prior to purchasing your bond.
- Do I need a federal or state CMS surety bond?
That depends on where you operate your business. Most states do not have a DMEPOS bond requirement. However, legislation changes all of the time so you will want to check to see if your state has a bond requirement. The federal bond requirements are in place nationwide.
- Will a patient trust bond protect my personal care agency?
No. It protects the patient's money being kept in a trust. In order to protect your business, you need to obtain insurance. We do not handle insurance, only bonds.
- Does a DMEPOS bond protect my company?
No. It protects the government from fraudulent Medicare and Medicaid billers.
- How long do I need to maintain a bond?
As long as you operate in the field and maintain a license.