(844) 589-9732

Missouri Nursing Home Surety Bond

May 28, 2019

The Missouri nursing home surety bond can be purchased through AmeriPro Surety Bonds. The premium, paid annually, is typically between 1-2% of the bond amount required. Please call us today at 844-589-9732.

Missouri Nursing Home Surety Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Nursing Home Licensing – Missouri

 

 

 

Nursing homes in Missouri are both licensed and regulated by the Missouri Department of Health and Senior Services.

The department also provides the form for the surety bond required.

The surety bond that your nursing home facility must furnish is not in a fixed amount; rather, it is an amount which is determined by a formula prescribed by the Department.

 

 

 

Missouri Nursing Home Surety Bond: Amount of Surety Required

 

 

 

As a nursing home, you likely have access to those for whom you have care.

In Missouri, the amount of the Missouri nursing home surety bond required is as follows:

  • It equal to 1 ½ times the average balance or the average monthly balance, of the residents in your care, rounded to the nearest thousand dollars;
  • Such average will be, according to statute (198.090) for the previous 12 months;
  • And, the Department has the ability and right to request that you increase the surety bond amount required to account for any deficiencies.

Our agency would first advise you to contact the Department of Health and Senior Services first to determine the surety bond required before contacting a surety agency, whether our surety bond company or any other else.

If your facility is brand new and therefore has not previously held funds for nursing home clients, the Department will determine for you the amount of surety bond required.

 

 

 

The Purpose of this Bond

 

 

 

The purpose of obtaining a Missouri home nursing surety bond, while required as a condition of licensing, is for the benefit of your nursing home patients.

The bond is a financial guarantee, for your nursing patients, that you will act in a proper fiduciary capacity with respect to the handling and administration of their money.

As the wording of the bond itself states, you as a nursing home provider, will not deprive a current resident or a former resident of any money held in a trust on their behalf.

If a claim were filed against your surety bond and paid, as principal, you must indemnify the surety for any losses.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety-bonds only agency. We provide license and permit, court, and fiduciary bonds in Missouri.

We also provide surety bonds nationwide.

Please call our agency today at:

 

 

 

844-589-9732

 

 

 

You may also fill out our form below and an agent will contact you...

 

 

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