Indiana discount medical program organization bonds.
From $700.
A company that sells discount medical cards in Indiana must register with the Department of Insurance, and IC 27-17-9-2 requires it to keep a surety bond of at least $35,000 in force for as long as it operates. The one-year premium starts at $700, and your organization’s file sets the exact number.
Trusted by industry leaders
How much does an Indiana discount medical program organization bond cost?
From $700; the exact price shows at the application once you enter your bond amount.
Built around your DMPO registration.
The Department of Insurance lists the bond as a required attachment to a new DMPO registration. Here is the whole process, from quote to filing:
Send us the file
Apply online with your entity type, business address, owner and contact details, years in business, and a short set of underwriting questions about past bankruptcies, judgments, liens and prior surety history. The application includes a credit review; it sets your exact premium above the $700 starting price.
See your exact price
The one-year premium starts at $700 for the $35,000 bond. The application shows your exact price before you pay — most applicants land at or near that starting price.
Bind, sign & file
Once you bind, the executed bond arrives on the Department’s DMPO bond form with the surety’s power of attorney attached. The form is sworn before a notary; attach it to your registration filing at Sircon along with the application and checklist.
What it is and who needs it.
What the DMPO bond actually guarantees
Indiana regulates discount medical cards under IC 27-17. A discount medical card program organization is a company that negotiates provider agreements, sells cardholders access to the discounted prices in them, and sets what cardholders pay (IC 27-17-1-6). The cards are not insurance: members pay for access to lower prices from physicians, dentists, vision and mental-health providers and the like. Prescription-only cards fall outside the article, because “medical service” excludes pharmaceutical supplies and prescriptions (IC 27-17-1-8).
Under IC 27-17-2-1 an organization may not transact business in Indiana unless it is registered with the Department of Insurance. IC 27-17-9-2 then requires it to maintain in force a surety bond issued by an insurer with an Indiana certificate of authority, in the organization’s own name, of at least $35,000 — for the Commissioner’s use in protecting cardholders who may be harmed if the organization becomes insolvent.
Two details matter when you order it. First, IC 27-17-9-3 lets an organization keep a deposit of cash or securities worth at least $35,000 with the Commissioner instead; a bond keeps that capital in your business. Second, the Department’s own bond form, which binds the surety to the Department of Insurance, is written at $35,000, renews yearly from inception, and cannot be cancelled until 30 days after written notice is filed with the Department.
Registration renews every year, and so must the bond. A registration expires annually on the last day of the month it was issued or renewed (IC 27-17-2-3), with a $500 initial fee and a $250 renewal fee, and each renewal needs proof the bond was renewed. Falling out of compliance with the financial requirements is grounds for suspension or revocation (IC 27-17-10-1), and the Department may impose civil penalties of $500 to $50,000 per violation (IC 27-17-14-1).
You need this bond if you’re
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $35,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The term is set on the carrier’s application; the premium covers the period shown there.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Bind, sign & file. Once you bind, the executed bond arrives on the Department’s DMPO bond form with the surety’s power of attorney attached. The form is sworn before a notary; attach it to your registration filing at Sircon along with the application and checklist.
What sets the price
From $700; your exact price appears at the application once you enter the amount.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, one soft pull.
These are the actual underwriting fields — entity type, ownership, business address, years in business, and the surety questions an underwriter prices from. The application includes a credit review; the one-year premium starts at $700 and your exact price appears there before you pay. Free until issued.
Start the application →Common questions.
Other Indiana bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Get your Indiana DMPO registration bonded.
One application, a one-year premium from $700, and a bond on the Department’s own form, ready to attach to your Sircon filing. Free until issued.