PayneWest Blog

New Medicare Requirement for Dentists: Surety Bonds

 

The Center for Medicare Services has recently changed a ruling that dentists providing DMEPOS (durable medical equipment, prosthesis, orthotics and supplies) services are no longer exempt from obtaining a surety bond. They are currently in the process of notifying qualifying parties.

What does this mean for dentists providing these services?

  • All dentists that are Durable Medical Equipment (DMEPOS) suppliers must obtain a surety bond.

How much will the bond cost?

  • It is quick and easy to get this bond. Average annual premium is just $250.

What is the minimum amount of coverage I need on the bond?

  • Minimum coverage required: $50,000.

Is there a deadline to get the bond?

  • The bond must be in place within 60 days from the date of notification.

Are there any consequences if I don't get bonded?

  • If a bond is not in place, your PTAN (Medicare Provider Transaction Access Number) will be deactivated.

Who does this change affect?

  • Applies to all Medicare providers including those that are non-participating.

 

Montana clients can contact Naomi Gerber by phone (406-238-1914) or email.

 

If you are located in Idaho, Washington or Oregon, please contact Tom Davis at (509-755-9338) or by email.

 

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