Virginia patient trust funds bonds.
From $100.
A Virginia nursing facility that holds residents’ personal trust funds must post a surety bond to protect that money, under 12VAC5-371-160, filed with the Virginia Department of Health. The bond covers the funds you hold — premiums start from $100, and no credit check up to $250,000.
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How much does a Virginia patient trust funds bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard patient trust bond — enter your amount, pay, and file with the Department of Health. Here is the whole thing:
Apply online
Your facility details, the bond amount covering the resident funds you hold, and the effective date — that is the application. No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Issued on the spot
Most applications approve instantly as soon as you pay.
File with the Department of Health
Submit the executed bond to the Virginia Department of Health (and with your Medicaid provider enrollment, where required). Wet-ink originals mailed on request.
What it is and who needs it.
What the patient trust bond actually covers
Many nursing-facility residents let the facility hold and manage their personal spending money in a resident trust account. Virginia’s nursing facility regulations at 12VAC5-371-160 require a facility that manages resident funds to post a surety bond to protect that money, filed with the Virginia Department of Health.
The bond amount must be at least equal to the total resident personal funds the facility holds at any given time. Because that balance moves, you size the bond to your typical or peak holdings; we re-issue if your figure changes. Facilities enrolling as Medicaid providers generally must have the bond in place before enrollment.
The bond protects residents and their families: if the facility misappropriates or loses trust funds, harmed residents can recover against it. If the surety pays, the facility repays the surety — it is a guarantee, not insurance for the facility. We issue the amount you need with premiums starting from $100; no credit check up to $250,000.
You need this bond if you are
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 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
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
File with the Department of Health. Submit the executed bond to the Virginia Department of Health (and with your Medicaid provider enrollment, where required). Wet-ink originals mailed on request.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with the bond amount covering the resident funds you hold — no credit check up to $250,000 to fill out, and the executed bond is typically generated instantly, ready to file with the Department of Health.
Start the application →Common questions.
Other Virginia bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Patient trust bond, issued today.
Premiums from $100. Enter the resident funds you hold and file with the Department of Health the same day.