Minnesota PCA Agency Bond |
AmeriPro Surety Bonds | 844-589-9732
PCA Agencies – Minnesota
Minnesota personal care assistance agencies (PCA) are licensed and regulated by the Minnesota Department of Human Services.
The Department provides a detailed list of what’s required for new and renewal PCA agency licensing.
As a prerequisite for a first time or renewal license, you must file evidence of a surety bond. AmeriPro Surety Bonds will work for you to provide you with the best pricing and turnaround.
Amount Required – Qualifying –
The Minnesota PCA agency bond amount is based upon your payments from Medicaid received in the prior calendar year. If you are new to the industry with no prior history, you are required to obtain a surety bond for the smaller bond.
The breakdown is as follows:
- If you received payments of $300,000 or less in the prior calendar year (or are brand new to the industry) the amount is $50,000 surety bond;
- If you received payments of more than $300,000 (even if by .01), the amount is $100,000 surety bond.
Obtaining this surety bond is by means of a surety bond application (which will need to be completed signed and scanned back to our agency) and a credit inquiry (i.e. surety agencies, not just our own, use “soft inquiries” which have no adverse impact on your score.
If approved, the estimated premium for the Minnesota PCA agency will be as follows:
- $50,000 surety bond at 2%, annually;
- $100,000 surety bond at 2%, annually.
Additional Premium Payment Options:
Additionally, at your discretion, you may have the option to prepay either surety bond amounts for 2 or 3 years. While of course this will cost you more upfront, it does offer a significant savings over year to year of your surety bond premium.
Refunds are not granted, however, should you cancel the surety bond before the expiration of the term designated and purchased.
Purpose of the Surety Bond
As stated within the wording of the bond, its purpose is to ensure your compliance of all rules, statutes, and amendments involved in personal care assistance, but most especially Minnesota Statute 256B.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Minnesota.
Our agency also provides surety bonds nationwide.
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