California Health Facility Patient Trust Fund Bond - Foster Family Group Home
Bond Requirements & Set Rates
| Bond Amount Required | Annual Premium |
| Varies | Varies |
Operators of foster family or group homes who manage more than $50 per patient (or $500 total) in personal funds must post a surety bond to operate in California. Required by the California Department of Social Services (CDSS), the California health facility patient trust fund bond protects residents by ensuring that any personal funds held by the facility are properly managed and safeguarded.
Cost of a California Health Facility Patient Trust Fund Bond – Foster Family Group Home
The premium for this bond is a small percentage of the required bond amount.
Facilities that hold larger amounts of resident trust funds may be required to carry a higher bond amount to ensure adequate financial protection.
Why You Need a Health Facility Patient Trust Fund Bond
The California health facility patient trust fund bond serves as a financial guarantee that foster family and group home operators will comply with state regulations governing the management of resident trust funds.
Like all surety bonds, this bond is a three-party agreement:
- Principal: Foster family or group home operator
- Obligee: California Department of Social Services
- Surety: Bonding company
If a valid claim is filed due to misuse or mismanagement of resident funds, the surety company may compensate the harmed party up to the bond amount. The facility operator is then responsible for reimbursing the surety for any paid claims.
How to Get the California Health Facility Patient Trust Fund Bond for Foster Family Group Homes
Follow these steps to secure the community care licensing bond with NNA Surety:
- Complete this bond application with your facility and licensing information.
- Receive a quote based on the required bond amount.
- Pay the premium to activate coverage.
- Submit the bond to the California Department of Social Services.
Get Your California Health Facility Patient Trust Fund Bond for Foster Family Group Homes
NNA Surety ensures your health facility patient trust fund bond is issued correctly and accepted by the state. Complete this form to get bonded or call 855-737-0193 for more information.