A Florida Medicaid provider surety bond is required for health care providers that accept Medicaid, such as physician groups, home health agencies, and ambulance services. The bond contract is written to ensure that Medicaid providers pay required fees to the state.
The principal, or policyholder, for this bond type is a Medicaid provider as defined in FS409.901.
Please note: This bond is specifically for Florida Medicaid providers. Suppliers of durable medical equipment, prosthetics, orthotics and supplies (DMEPOS) will need a DMEPOS bond.
The state of Florida requires you to post a Medicaid provider bond in order to do business if your company, agency, or medical group accepts Medicaid payment.
The Florida Medicaid provider bond coverage amount is $50,000, but the yearly premium is a small fraction of that. Our standard premium for this policy is $1,000 (or 2% of the bond's full coverage amount).
Your premium cost can rise to 10% or more if your personal credit score is low. Other factors that affect premium rates when we review your application are your business finances and professional experience.
In order to get a surety bond for your health care business, you must first apply for a policy. This allows the surety company to evaluate your credit rating and provide a quote for your annual premium cost.
The first step in enrolling your health care organization as a Medicaid provider is to visit the Florida Medicaid web portal, where you will find important provider enrollment information. If you prefer to speak with someone for guidance, call Florida's Agency for Health Care Administration to start the process.