Florida Leased Nursing Home Bond

Florida Leased Nursing Home Bond

The Leased Nursing Home Bond (sometimes referred to as the Medicaid Lease Bond) is required of all business owners who are leasing nursing homes that are registered with the Florida Agency for Health Care Administration (AHCA).

QUOTE

Jet Insurance Company provides the Leased Nursing Home Bond as a financial guarantee to the Florida Agency for Health Care Administration should a financial damage occur due to the nursing home violating state regulations and/or engaging in unethical business practices.

What Is the Limit and Cost of the Leased Nursing Home Bond?

According to the Florida Agency for Health Care Administration, the Leased Nursing Home Bond has a penal sum, or bond limit, that must be no less than the average total (three months’ worth) of Medicaid payments that the facility receives within a twelve-month period. 

At Jet, the cost of the Leased Nursing Home Bond is a small fraction of the bond limit and is based on the personal credit score of the leased nursing facility owner. So if you are seeking up to a $10,000 bond limit, we have rates available at just $100 for a one-year bond term.

For additional custom bond limits and rate options, take a look at Jet’s price chart below. 

Bond LimitMonthlyAnnual
Up to $10,000$10$100
$25,000$19$188
$50,000$38$375
$100,000$75$750
FL Leased Nursing Home Bond Cost

The Jet team provides services online and over the phone. To get started with the purchase of the Leased Nursing Home Bond, simply select the “View Your Price” button above.

Florida Leased Nursing Home Bond Process With Jet

You can complete the application for the Leased Nursing Home Bond fully online, or if you would prefer, over the phone by calling 855-296-2663! To begin, some general information will be needed such as your contact details and social security number. For any bond limit $50,000 and under you will receive a quote ready to purchase immediately online. All you need to do is fulfill payment, and once done, a copy of your receipt and bond form will be sent your way instantly. 

Jet can file your surety bond form for you at no extra charge! However, if you would like to take care of this step yourself, the option to do so may be selected at check out. 

Either way, the original signed and sealed Leased Nursing Home Bond, along with any other supporting licensure paperwork must be submitted to the Florida Agency for Health Care Administration at the following mailing address:

Florida Agency for Health Care Administration
Long Term Care Unit
2727 Mahan Dr., MS 33
Tallahassee, FL 32308

License applications and other required paperwork can be found on the AHCA’s Nursing Homes Homepage.

How Does the Facility Owner Avoid Leased Nursing Home Bond Claims?

Licensed nursing homes are expected to follow all applicable regulations under Title XXIX, Chapter 400, Part II of the Florida Statutes. Most importantly, the facility owner and their employees should display ethical business practices—which include any Medicaid overpayments received by the nursing home to be refunded to the Florida Agency for Health Care Administration. 

Failure to abide by these rules and license obligations can lead to an official bond claim. If the claim is found to be justified, funds from the Leased Nursing Home Bond would cover the AHCA’s financial losses, as well as their attorney fees (this only applies if the claim is brought to trial). 

If the AHCA pursues an official bond claim, notice will be sent to Jet. Once received, the Jet team will contact the nursing facility owner and request all available information and documentation of the claim will be made. These details will be used for our own review and investigation into the alleged license violation. 

Per the Leased Nursing Home Bond form, claims that are determined to be valid legally must be paid out by Jet to the damaged party (only up to the bond’s limit). It is important to note that the surety bond is essentially an extension of credit, therefore, you are responsible for reimbursing Jet for the claim payout that was made on behalf of your license violation. Failure to do so can lead to future difficulties in obtaining a surety bond within the State of Florida, particularly such bonds that are needed to work in the nursing home and long-term care facility industries.

Learn More On How To Renew Or Cancel Your Bond

How to Renew My Bond

The Leased Nursing Home Bond typically expires after thirty months, see Jet’s process to renew your bond. Hint-it’s simple.

How to Cancel My Bond

See the details surrounding the process to cancel the Leased Nursing Home Bond.

Are There Other Bonds That a Florida Nursing Facility Owner Needs?

Yes, the Nursing Home Patient Trust Bond is required of Florida nursing homes that hold resident funds or property in a trust account. 

In addition, a $500,000 Health Care Clinic Non-Immigrant Alien Bond is mandated of any home health agency, home medical equipment provider, or health care clinic that is affiliated through ownership or controlling interests with a non-immigrant alien. If you are in need of this specific surety bond, give Jet a call at 855-296-2663 and we’ll help you out right away!

Florida Leased Nursing Home Bond Example

Florida Leased Nursing Home Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: