You may have recently been notified that Medicare/Medicaid now requires some suppliers of durable medical equipment (DME) to carry a Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (DMEPOS) Surety Bond. This requirement was put in place by the Centers for Medicare & Medicaid Services (CMS) to protect Medicare/Medicaid from any unpaid claims. In the case of an unpaid claim, Medicare/Medicaid can make a claim on the DMEPOS bond. At that point, the Surety would make the payment, up to the bond amount, to settle the claim. The Surety would then, in turn, attempt to collect the paid amount from the DMEPOS supplier.
If you are subject to this requirement, a bond of $50,000 is necessary. Fortunately, a number of entities are available to quickly and easily provide this for you. Please review the following links and choose that which best suits your needs. Be advised, MDA Insurance is not affiliated with, or compensated by, any of these organizations. The links are provided for your reference and review only. Other third-party organizations may also offer similar bonds.