%20.webp)
Medicare / Medicaid Bond (CMS/DMEPOS) Information
The Medicare Bond Medicaid Bond, also known as Durable Medical Equipment, Prosthetics, Orthotics, and Supplies Bond (DMEPOS bond) is required by the federal government for all DMEPOS suppliers and manufacturers. Personal care agencies may also be required to obtain this bond, depending on state regulations. This bond is also referred to as a medicare bond and a medicaid bond. This $50,000 bond requirement has been in place since a 2009 Centers for Medicare & Medicaid Services (CMS) regulation took effect in hopes of eliminating malpractice. It protects the government from DMEPOS suppliers and manufacturers who engage in medical billing fraud and exploit the medicare system. It also protects patients who’ve been sold unnecessary medical equipment. By instituting the Medicare (DMEPOS) surety bond requirement, CMS has sought to reduce the number of malpractice cases. An additional aim has been to limit the number of illegitimate suppliers or manufacturers who intend to commit fraud, as well as make sure that the Medicare system is compensated in cases of fraud. A separate bond is required for every location which has its own National Provider Identifier (NPI). Alternatively, it may be possible to write one bond at a higher amount which lists all locations in an addendum.Listed below are the 3 absolutes in surety.
- Must be a US Citizen
- Cannot be in current bankruptcy
- Cannot be behind in child support
