FOR ALL YOUR SURETY BOND NEEDS.
A Florida surety bond guarantees principal owners and the public that services will be performed with excellence and security. Florida legally requires a variety of contractors and organizations to secure bonds to conduct business across the public service industry. Single Source Insurance is a leading Florida bonding company. Apply easily online and take advantage of lowest rates. Browse the most common types of FL surety bonds, or contact us for a full list.
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(MEDICARE DURABLE MEDICAL EQUIPMENT, PROSTHETICS, ORTHOTICS AND SUPPLIES (DMEPOS) SUPPLIER STANDARDS)
***Please download the PDF application and email or fax back to 855-647-7978 for a quote***
A DMEPOS surety bond is a bond issued by an entity (the surety, Single Source Insurance, LLC) guaranteeing the National Supplier Clearinghouse that a DMEPOS supplier will fulfill an obligation or series of obligations to a third party (the Medicare program). If the obligation is not met, the third party will recover its losses via the bond.
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How much can I expect to pay for my DMEPOS bond?
These bonds do require underwriting and are based on personal credit of all owners. You can expect to pay anywhere between approximately 3 percent of the value of the bond but this figure could vary by surety.
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Bond Penalty Amount: $50,000 (As of ?January 2, 2009, implemented in Section 4312(a) of the Balanced Budget Act of 1997)
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Bond Term: 1 year
Bond Expiration Date: Varies
Why do I need this bond?
A DMEPOS surety bond is a bond issued by an entity (the surety, Single Source Insurance, LLC) guaranteeing the National Supplier Clearinghouse that a DMEPOS supplier will fulfill an obligation or series of obligations to a third party (the Medicare program). If the obligation is not met, the third party will recover its losses via the bond.
For more information on which suppliers are subject to this requirement, visit:
http://www.cms.hhs.gov/center/dme.asp
For more information on the requirements and process, visit the National Supplier Clearinghouse website at:
http://www.palmettogba.com/Palmetto/Providers.nsf/files/suretybondfaqs08252009.pdf/$FIle/suretybondfaqs08252009.pdf
