Skip to content

Prime Insurance Agency Blog

All You Ever Wanted to Know About Insurance

Bond Information for Durable Medical Equipment Suppliers



The Federal government requires all Durable Medical (DMEPOS) suppliers to secure a $50,000 bond in compliance with Medicare reimbursement regulations.

As outlined in the legislature this includes providers of the following:

  • durable medical equipment

  • prosthetics

  • orthotics and supplies

From July 16, 2019 through September 18, 2019, DMPEO providers who have obtained the DMEPOS bond can participate in a national competitive bidding. In 2021, following the bid window, 3-year contracts will be awarded. 





 

More Information about the DMEPOS Bond Program

  • There are currently 130 competitive bidding areas (CBAs) in the US.

  • Each CBA requires one bid bond – even if a supplier bids on all 16 of the varying products within a CBA.

  • Multiple bidders for the same CBA product can be eligible for contracts: in the event there are 5 or more qualified bidders for the same CBA product, a minimum of 5 contracts will be awarded; if there are less than 5, a minimum of 2 contracts will be awarded.

 

PRIME Insurance can assist the DMEPOS providers with the above bonds, as well as any other commercial bond.

  

 

PRIME Insurance is a three-generation family-run independent agency. We’re proud partners with many of the leading companies in the industry – big names such as ACE, AmTrust, ASI, ASSURANT, CHUBB, CNA, Employers, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. This gives us the ability to provide all forms of nationwide coverage at competitively lowest quotes. Visit us on our online at our insurance website or email us at PRIME [at] primeins [dot] com or call us at 732-886-5751 and HAVE A PRIME DAY™!


Summary: Durable Medical Equipment suppliers must procure a $50,000 bond in compliance with Medicare reimbursement requirements. Prime Insurance highlights more on the bond program in this insightful write-up.


Discussion

There are no comments yet.


Leave a Comment

Required fields are marked with

Comment

Your name, comment, and URL will appear on this page after it has been reviewed and approved. Your email address will not be published.