New Jersey Health Care Service Firm Bond
AmeriPro Surety Bonds | 844-589-9732
Health Care Service Firms – New Jersey
Health care service firms operating in New Jersey are regulated by the state’s Division of Consumer Affairs Division.
If you are required to obtain a bond, AmeriPro Surety Bonds will work to find you the best surety bond pricing as either a new or renewal bond.
New Jersey health Care Service Firm Bond: Of Whom Required and the Amount
The $10,000 New Jersey health care service firm bond is required of companies who have a net worth which is less than $100,000. Companies which meet and exceed that threshold are not required to obtain a surety bond.
If you are required to obtain the $10,000 health care service firm surety bond, the bond must be submitted along with your surety bond application.
If you have any doubts as to whether a surety bond is required, you will need to contact the Division of Consumer Affairs; they will be able to confirm (or deny) the surety bond requirement in your case.
Its Premium and the Bond’s Duration
The New Jersey health care service bond is issued instant upon completion of an application. The premium is just $100 annually. There is neither a credit check nor an underwriter review for this bond.
Additionally, the bond can be prepaid for 2 or 3 years. Prepayment of the premium of this bond allows you to save over year to year renewal.
The breakdown is as follows:
- Prepayment for 2 years is $180, a $20 savings;
- Prepayment for 3 years is $260, a $40 savings.
The purpose of the $10,000 New Jersey health care service firm bond is a financial guarantee which ensures your compliance with all applicable rules and regulations governing health care service firms operating in the state.
The bond protects the Division and the people of New Jersey from acts of fraud, theft, criminal malfeasance and willful negligence in the commission of your duties.
The bond also protects against wrongdoing committed by agents, employees, and managers of a health care services firm.
As principal of this bond, you are obligated to reimburse the surety for any claims (if such were ever to occur) paid against your surety bond.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit, contractor, court, and fiduciary surety bonds throughout New Jersey.
Our agency also provides surety bonds nationwide.
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