What is an Indiana Medicaid Transportation Provider Bond?
Know why this surety bond matters to Medicaid transportation providers in Indiana!
Medicaid transportation providers are persons who are enrolled in the Medicaid Program to offer transportation services to Medicaid recipients.
Before performing the said task, Medicaid transportation providers must first secure a surety bond.
The surety bond is required by the State of Indiana, Family and Social Services Administration, Office of Medicaid Policy and Planning (OMPP) as a guarantee for the compliance of the Medicaid transportation providers to the state laws and rules.
The surety bond will be conditioned to cover any potential false Medicaid claims or overpayments committed by the Medicaid transportation provider.
This requirement – in line with Section 12-15-11-2.5 of the Indiana Code – applies to new Medicaid transportation provider applicants, those who are changing ownership, and Medicaid transportation providers that are transferring their assets.
What is the Medicaid Transportation Bond amount?
$50,000 – minimum bond amount
If you have an excellent credit score, you will be eligible to pay a low bond premium! You can pay as little as 1% of the bond amount!
How can I get a Medicaid Transportation Provider Bond?
Here’s a step-by-step bonding process that we have made easier so that you can get your bond in no time:
You must first apply for this type of surety bond. Check out what you need to pay for by getting your FREE SURETY BOND QUOTE HERE!
Our expert surety bond agent will guide you through the entire process – from the time you have applied until the bond is issued to you.
Next, you will be asked to submit a few important information that our underwriter will typically need to assess your credit score to determine your bonding capacity.
To avoid any delays, make sure that you have gathered the right information needed before submitting.
Once the underwriting process is done, we will immediately issue your bond and send it to you right away!
What are the surety bond conditions?
- The surety bond agent or company should be authorized to conduct business in the State of Indiana.
- The surety bond should be made payable to the State of Indiana, Family and Social Services Administration, Office of Medicaid Policy and Planning (OMPP).
- The Medicaid transportation provider should obey the provisions of Section 12-15-11 of the Indiana Code, as well as the rules and regulations of the State of Indiana, Family and Social Services Administration, Office of Medicaid Policy and Planning (OMPP).
- If the Medicaid transportation provider commits a violation, the aggrieved party will be eligible to file a claim against the bond.
Ready to apply for your surety bond? START HERE!