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Nevada Health Care Facilities and Services Bond
A Health Care Facilities and Services Bond must be filed with the Nevada Department of Human Resources, Division for Aging and Disability Services as financial protection for patients under the care of health care or refractive surgery facilities or services. Should the facility cause monetary loss through its failure to comply with regulations or by going bankrupt, there is an opportunity for compensation to be made to the harmed person(s).
When you buy your bond with Jet Insurance Company, you are assuring the Division for Aging and Disability Services that you are trustworthy and will protect the financial health of your patients.
What Is the Bond Limit for the Health Care Facility and Service Bond?
This bond has a limit that starts at $5,000 but can go up to $100,000, based on the number of workers that are in your employment and what type of facility you are running. Refractive surgery facilities have a bond limit that ranges from $10,000 to $100,000 while all other health care facilities or agencies that require a license (intermediate care facilities, individual or group residential homes/facilities, or agencies for in-home nursing or personal care services) have a limit that ranges from $5,000 to $50,000.
| Number of Employees | Health Care Facilities & Services Limit | Refractive Surgery Facilities Limit |
|---|---|---|
| Less than 7 employees | $5,000 | $10,000 |
| 7-25 employees | $25,000 | $50,000 |
| More than 25 employees | $50,000 | $100,000 |
What Is the Cost of the Nevada Health Care Facilities Bond?
With Jet, the cost of the Health Care Facility Bond starts as low as $10 monthly or $100 for one year. Of course, the price depends on the bond limit and a soft credit check. In the chart below, you can find the rate for preferred credit applicants at possible bond limits.
| Bond Limit | Monthly | Annual |
|---|---|---|
| $10,000 | $10 | $100 |
| $25,000 | $25 | $250 |
| $50,000 | $55 | $500 |
Jet is the only direct insurance company that allows you to pay-as-you-go. You can pay a small portion of your bond limit each month as long as you need to, which especially comes in handy with higher bond limits.
Why Is the Health Care Facility Bond Required in Nevada?
The Division of Aging and Disability Services seeks to protect the dignity and independence of individuals and families under their care. The Health Care Facilities and Services Bond upholds this mission by refunding those who are injured by the health facility’s failure to fulfill their obligations.
How to Apply for the Nevada Health Care Facilities Bond With Jet
Applying for the Nevada Health Care Facility Bond only takes a few minutes through Jet’s streamlined application. We only ask for the information needed to get you your quote, including a social security number that is used to run a soft credit check — don’t worry, this does not affect your credit score.
Most applicants find an approved rate that is ready for purchase as soon as they finish the application. If your application is submitted for review, you will receive an email with the approved quote. After your purchase, Jet will send you a digital copy of the bond and a receipt.
How Does the Health Care Facility Bond Get Filed to the Nevada Division of Aging and Disability Services?
Once you pay for your Health Care Facility Bond, Jet will prepare the bond form for you. We will mail the bond to you so you can file the bond with your license/renewal application through the online portal.
Can I Cancel My Health Care Facilities Bond and Get a Refund?
Yes, Jet will provide a refund for a Health Care Facilities and Services Bond that was purchased in full and cancelled early. Our team will notify the Department of the cancellation request; they hold the bond for an additional 30 days before the cancellation is complete. Any remaining time will be calculated into a refund for you
Monthly payment plans are not eligible for a refund and payments will cease after the 30-day cancellation period has ended.
How to Renew the Nevada Health Care Facilities and Services Bond
If you are part of the monthly payment plan, you do not need to worry about renewals. Every time your payment is processed, your bond is kept active.
For bonds purchased by the year, Jet will send you a renewal notice via email and mail when your term is almost up. All you need to do is complete the renewal notice by selecting your new term and paying the renewal premium.
If the number of employees you have changes and your bond limit needs to be adjusted, let Jet know right away so we can ensure you are holding the appropriate amount of coverage.
Nevada Health Care Facility Bond Claim Information
As a licensed health facility, service, or agency, you are obligated to comply with the Nevada Revised Statutes, Chapter 449. These statutes are key factors in preventing elderly or other patients in your care from being hurt financially by your actions. In the unfortunate case that it happens, restitution can be sought by the financially harmed individual(s) through the Health Care Facilities and Services Bond.
For refractive surgery facilities, the facility going bankrupt or any violation of the statutes can be the cause for a claim. As the protocol in Section 449.4526 of the Nevada Administrative Code indicates, a person who is damaged will apply for indemnification with the Administrator of the Division of Aging and Disability Services. There should be evidence of a court determination of guilt and a statement that details the damages. The Administrator will take action to recover damages from the bond.
All other health facilities that are licensed are expected to follow the protocol laid out in Section 427A.175 of the Nevada Revised Statutes. Similarly, a patient who has lost money because of the facility’s actions will file a formal complaint to the Administrator, who will investigate and attempt to settle the complaint. If it cannot be resolved, the patient can call for a hearing with the Attorney for the Rights of Older Persons and Persons with Physical Disability, an Intellectual Disability or a Related Condition. If it is found that the facility is at fault, action will be taken to recover from the bond.
If you receive a claim on your Health Care Facilities Bond, get in contact with Jet as soon as possible. It is highly probable that an investigation by the Division of Aging and Disability Services has already been conducted and some attempt for reconciliation has been made. Jet will review the claim to make sure that there weren’t false allegations or bureaucratic oversights leading to this occurrence.
A claim that is found to be valid will force Jet to pay out the claim, not to exceed the limit of the bond. Since your actions caused the damages and led to the claim, you must pay Jet back for providing restitution on your behalf. In some cases where the damage is more than the amount of the bond, you may be required to pay the claim pro rata.
