Patient Trust Bond
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Patient Trust Bond Information
Residents of nursing homes, hospital patients and even those who are housebound are often vulnerable targets for thieves and can be robbed of their most prize possessions or life savings by a health care provider.
It is for this reason alone, that nearly all health care providers request a surety bond such as a patient trust bond, especially if an individual requires long-term health care provision.
A patient trust bond can also be referred to as a Medicaid surety bond or a Medicare bond. It is a surety bond that is in place for those who are residing in a medical facility or for those who require care in their own home from a medical provider.
A bond such as this acts as a guarantee that should the health care provider manage a client’s finances, which may be held in trust, in an unacceptable manner then a full reimbursement can be legally sought.
It is always advisable for those who are seeking to put a loved one into a nursing or residential home that sufficient checks are conducted prior to making a final decision. Although it is hard and an upsetting decision for many to place a loved one into care such as this, the need for reassurance that the provider meets legal requirements by law and is bonded can aid in accepting the final decision. All many families wish for is that their relative is cared for appropriately and sufficient funds are in place to pay for this care.