Oregon Health care Service Contractor Bond |
AmeriPro Surety Bonds | 844-589-9732
AmeriPro Surety Bonds provides customers with the required Oregon health care service contractor bond. While state legislation indicates an amount required of $250,000, the bond form provided by the state indicates a $260,000 bond requirement.
We will assume, for the sake of accuracy, that the bond amount required is $260,000.
AmeriPro Surety Bonds will help both new and renewal applicants obtain the required bond.
Oregon Health Care Service Contractors:
The Oregon state legislature defines Oregon health care contractors as a corporation:
- That is formed by a group of hospitals;
- Or a group of doctors;
- Or a group of hospitals and doctors
- And that removes any financial liability from the subscriber should the health care service contractor fail to pay for any covered services.
Oregon Health Care Service Contractor Bond: Amount Required
According to Oregon legislation 750.045, paragraph 2, health care services contractors are required to obtain a health care service contractor bond for $260,000.
Oregon Health Care Service Contractor Bond: Who Requires the Bond?
The State of Oregon, Department of Consumer and Business Services Requires is the obligee for the health care services contractor bond.
Oregon Health Care Service Contractor Bond: Purpose
The purpose of the health care contractor bond is a requirement of the obligee to protect the public from any acts of criminal malfeasance, fraud, theft, or criminal mismanagement of duties as a licensed health care service provider.
As such, it is important to note that the bond is required by the obligee on behalf of the consumers; it is not a protection for the health care service provider at all.
It is, however, a requirement for licensing in the state.
Oregon Health Care Service Contractor Bond: The Cost
The cost of the health care service contractor bond will be a small percentage of the $260,000 required.
We see costs ranging anywhere between 1-5%, normally, for this bond.
The bond renews on an annual basis.
About AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety bond-only agency.
We provide court, license and permit, and fiduciary surety bonds throughout Oregon.
As a licensed entity, we also provide surety bonds nationwide.