Goldleaf Surety Services has several excellent markets for the Minnesota PCA bond.
And, if your clients are not able to qualify due to lower credit scores, we can help!
If your insured has an unsatisfactory credit history report or unfavorable financials, Goldleaf underwriters’ experience and our access to many surety markets allows us to place bonds when others may not be able to.
What is a Personal Care Assistant?
A personal care assistant, also known as a personal care attendant or a personal care aide, helps older or disabled individual perform their daily living activities. This may include cleaning, cooking, and personal hygiene assistance.
What is the Minnesota PCA Bond?
Section 256B.0659 of the Minnesota Statues requires all personal care assistant provider agencies to have a bond at the time of enrollment, re-enrollment and re-validation. This bond is in place to secure compliance with the terms of the state’s statute Chapter 256B as well as all rules made by the state commissioner and any other legal obligations which may arise from the care givers conduct as a PCA provider agency.
What is the bond amount?
- Agencies that received less than $300,000 in Medicaid revenue over the last year are required to have a $50,000 surety bond when they enroll.
- Agencies that made more than $300,000 in Medicaid revenue over the last year are required to purchase a $100,000 surety bond before they enroll.
If you would like more information on PCA bonds or need assistance placing this bond for your client, contact Goldleaf Surety Services at 1-888-294-6747. We can assist you with this bond need as well as all your other bond needs.