Washington nursing facility resident funds bonds.
From $100.
When a Washington nursing facility holds personal funds for its residents, it must secure those funds with a surety bond — a requirement of DSHS under WAC 388-97-0340 and federal law (42 CFR 483.10). The amount tracks the funds you hold. Pricing is 1% of your bond amount, $100 minimum, and your exact price appears at the application.
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How much does a Washington nursing facility resident 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 credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score. Here is the whole thing:
Apply online
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Priced and issued
Applicants are priced at 1% of the bond amount, $100 minimum, and issued instantly. No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
File and keep managing resident funds
Hold the executed bond as DSHS requires while you manage residents’ personal funds. Wet-ink originals mailed whenever the agency insists.
What it is and who needs it.
What the resident funds bond actually covers
When a Washington nursing facility agrees to hold and manage a resident's personal funds, federal law (42 CFR 483.10) and DSHS rules require it to purchase a surety bond — or an approved alternative — to assure the security of those funds. It is a condition of operating as a Medicaid- and Medicare-certified facility.
The bond protects residents and their funds against loss from theft, mismanagement, or the facility's insolvency. If resident money entrusted to the facility is lost and the facility cannot make it whole, a claim can be paid against the bond.
The amount is sized to the resident personal funds the facility holds in its trust account, so it scales with your census and balances rather than being a single fixed figure. Confirm the required amount with DSHS — pricing is 1% of the bond amount, $100 minimum, and 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 and keep managing resident funds. Hold the executed bond as DSHS requires while you manage residents’ personal funds. Wet-ink originals mailed whenever the agency insists.
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 amount that covers the resident funds you hold — priced at 1% of the bond amount, $100 minimum, and issued on the spot.
Start the application →Common questions.
Other Washington bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Resident funds bond, issued today.
1% of the bond amount with a $100 minimum. Enter the amount you hold and file the same day.