Surety Bond

FOR IMMEDIATE RELEASE

For more information contact Kathy Struecker at (515) 295-2461, ext. 4260 or Kathy.struecker@phmic.com.

MEDICARE SURETY BOND UPDATE

The May 4, 2009 deadline for the Medicare Surety Bond has now come and gone.  All suppliers of Durable Medical Equipment and Prosthetics, Orthotics and Supplies (DMEPOS) that are applying for new National Provider Identifier (NPI) numbers should now have their Medicare Surety Bonds for their pending applications.  All future applications will need to include a bond for the application to be accepted by Medicare.

DMEPOS suppliers should now be securing bonds for the October 2, 2009 deadline.  While that date is months away, the demand in the two months prior to the deadline will be very large and possibly make it difficult to have the bond issued and sent to Medicare within the proper timeframe.  We are encouraging suppliers not to wait.

Pharmacists Mutual Insurance Company’s subsidiary, Pro Advantage Services, Inc., d/b/a Pharmacists Insurance Agency (in California) has made arrangements with CMS approved bonding companies (“T” listed) at rates starting at $250 per $50,000 bond.  Applications are being accepted now.

Contact us at:

Email –     MedBond@phmic.com
Phone –     1-800-247-5930 Ext. 4260
Fax –         515-295-4360

You can also contact your Pharmacists Mutual Representative for assistance.  Additional information and background