$350 is your GOOD CREDIT PRICE for a $50,000 Medicare DMEPOS Bid Bond for most states.
This is a newly required bond for all DME Providers that want to enter competitive bids to supply durable medical equipment under the Round 2021 Medicare Program. This bond guarantees that the competitive bidder will enter into the supply contract with Medicare for the products that they bid on (if their bid was successfully accepted).
Medicare DMEPOS Bid Bonds are generally available starting at $350 with acceptable credit.
Bonds Express offers a Medicare DMEPOS Bid Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Medicare DMEPOS Bid Bond holds you accountable for your business decisions.
By possessing a Medicare DMEPOS Bid Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.