Medicaid Bond

Although Medicaid bonds sound like they must be the same things as Medicare bonds, they are not. Medicare bonds are required on a federal level while Medicaid bonds are required on a state level and can, therefore, differ between states. If you are looking for Medicare bonds, click here: Medicare Bonds with The Bond Exchange.  

Typically, these bonds serve to ensure that Medicaid providers (as defined by the state’s laws and statutes) agree to faithfully comply with all laws and duties that come with being a Medicaid provider. This includes honestly handling all funds received and faithfully performing all obligations expected of the provider.

Medicaid bonds are usually continuous. If needed, continuation certificates can be issued upon receipt of the renewal payment. A certificate would then be mailed to the principal, who would become responsible for delivering the certificate to the appropriate obligee (person or entity requiring the bond).

Medicaid bonds usually have a 30-90 day cancellation provision, but this is entirely dependent on the state the bond is being obtained in.