New Jersey Health Care Service Firm Bond
Purchase your bond instantly online when you choose one of the 3 term options below. Save time and money by extending your bond term. Choosing a longer term now means you pay 25% less for your bond each year and forego the annual renewal process.
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How much does the New Jersey health care service firm bond cost?
The New Jersey health care service firm bond costs $100 annually. You can save money on your bond premium by choosing our multi-year discount to extend your health care service registration bond term during checkout!
How do I get a health care service firm bond in New Jersey?
You can buy your New Jersey health care service firm bond online 24/7. Simply select your preferred term and provide the following information for Division of Consumer Affairs filing approval.
- full name of the health care firm's owner
Once your payment has been received, your official New Jersey surety bond will be sent to your email instantly.
How fast can I get a health care services firm surety bond?
SuretyBonds.com offers instant New Jersey health care service firm bond delivery 24/7. Buy now to receive your official health care bond in minutes by email.
What is the purpose of the New Jersey health care service firm bond?
New Jersey Administrative Code 13:45B-13.3 requires individuals file a $10,000 bond amount as part of the state's health care firm registration process. State form RBS/HCSF (R-5/10) is simply titled “Surety Bond” but is more commonly known as the “health care service firm bond.” This bond requirement ensures health care service firms fulfill all service or product contracts and do not file for bankruptcy.
Why do New Jersey health care firms need to be bonded?
If a health care service firm fails to fulfill their service or product contracts or files for bankruptcy, individuals who experience financial loss as a result can file claims against the bond. The health care firm's issuing surety company will pay valid claims up to the full $10,000 bond amount, which the bonded health care firm must reimburse in full.
Who regulates licensing for health care service firms?
The New Jersey Division of Consumer Affairs enforces licensing and registration for the state's health care service firms, including the $10,000 surety bond requirement. To contact the Division, you can call the consumer service hotline at 1(973)504-6200 or email general questions to [email protected]. Note that visits to Division of Consumer Affairs offices currently require an appointment.
How do I update or change my health care service firm bond form?
If the Division of Consumer Affairs requires your bond form to be updated for any reason, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes for this bond are updating the health care firm's name, address, or county to match your state license paperwork.
How do I renew my New Jersey health care service firm bond?
You must renew your New Jersey health care service firm bond before its current term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be sent to keep your bond active for your next license term as required by state law.
How do New Jersey health care service firms register your business?
Fill out your health care service firm registration application packet and complete the following steps to register your health care service firm in New Jersey.
- Purchase and file a $10,000 New Jersey surety bond.
- Provide a certified financial report, if applicable.
- Provide proof of business insurance.
- Upload a license copy for each of the supervisors, nurses, or physicians employed by the agency.
- Pay all required fees, which includes a $500 registration fee for each separate location.
What can New Jersey health care service firms do to avoid claims against your bond?
To avoid claims filed against your bond requirement, you must fulfill your service or product contracts and avoid filing for bankruptcy when operating your health care service firm. If you fail to do so, your issuing surety company will pay valid claims up to the full $10,000 bond amount to individuals who experience financial loss, which you would be required to reimburse in full.