Texas Discount Health Care Program Operator Bond Overview
- Purpose: To protect discount health care clients from harm or fraud
- Who Needs It: All discount health care card program operators in Texas
- Regulating Body: The Texas Department of Insurance
- Bond Amount: $50,000
- Minimum Price: $500 or 1%; credit-based
What Is a Texas Discount Health Care Card Program Operator Bond?
The Texas Department of Insurance requires all discount health care card program operators to file $50,000 surety bonds. The discount program operator bond holds operators financially responsible for acting honestly and ethically. This protects clients and the state from harm.
How Much Does It Cost?
The $50,000 Texas discount health care card program operator bond typically costs 1–5%, depending on personal credit score. That means you can expect to pay $500–$1,500. Apply for a fast, free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does the Bond Work?
Texas discount health care card program operator bonds ensure that operators comply with all state rules and regulations. Unfair or deceptive acts include the following:
- Misrepresenting price ranges for discounts
- Misrepresenting size or location of program’s network of providers
- Failing to register or renew registration
- Misrepresenting a program as a federally approved Medicare program
- Using the term “insurance” for the discounted health care product
As the bond principal, you are responsible for acting honestly and legally. If you don’t, harmed parties can file bond claims for reimbursement.
How Do I Get My Bond?
You can get your Texas discount health care card program operator bond quickly and easily with SuretyBonds.com. Just follow these steps:
- Submit a quick online application.
- Receive your free quote within one business day or less.
- Sign and complete the purchase.
You’ll get an email with the official bond form shortly after checkout.
Can I Get Bonded With Bad Credit?
Surety underwriters do a soft credit pull to determine your rate. Typically, we can still issue bonds to applicants with low personal credit scores. However, you may pay a higher premium rate. Apply now to see if you qualify.
How Do I Renew My Bond?
We’ll send you helpful renewal reminders so you don’t have to worry about keeping track of your bond term. Just pay the invoice to extend your bond for another year. You don’t need to file any extra forms with the state.
The surety can cancel the bond at any time by giving 30-days written notice to the Texas Department of Licensing and Regulation.
How to Become a Discount Health Care Card Program Operator in Texas
Discount health care card program operators must register with the Texas Department of Insurance. To apply, you’ll need to submit the following materials:
- Registration form
- $1,000 registration fee check
- Biographical certificates
- $50,000 surety bond
- Copy of all program contracts
- List of the marketers authorized to distribute your program cards
Mail your application packet to this address:
Texas Department of Insurance
Agent and Adjuster Licensing Office, MC CO-AAL
P.O. Box 12030
Austin, TX 78711-2030
