Secure Personal Funds of Nursing Facility Residents
This bond is required for nursing facilities in Washington that hold or manage money belonging to their residents. When a nursing home takes care of personal funds for people living there - such as Social Security checks, savings, or spending money - they must get this bond to protect those funds. It guarantees that i…
Overview
What it is.
This bond is required for nursing facilities in Washington that hold or manage money belonging to their residents. When a nursing home takes care of personal funds for people living there - such as Social Security checks, savings, or spending money - they must get this bond to protect those funds. It guarantees that i…
Who usually needs it
Licensed nursing facility operators in Washington State who hold, manage, or safeguard residents' personal funds must obtain this bond. This applies specifically to facilities that accept written authorization from residents or their guardians to deposit and manage personal funds, such as amounts over $50 (or $100 for Medicare residents) placed in interest-…
Pricing & timing
What to expect.
Generic pricing
Fidelity bonds protect against employee dishonesty and theft. Typical Pricing:. • Standard coverage: Premiums commonly based on coverage amount and number of employees. • ERISA bonds: Matrix pricing based on plan assets — often starting around $100–$300 per year for smaller plans. • Employee dishonesty bonds: Rates vary by coverage level and employee count. ERISA fidelity bonds are required for employee benefit plan fiduciaries. Coverage must equal at least 10% of plan assets handled, up to…
Typical timeframe
Specialized application — typically 1–3 business days
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateWABond amountVaries by license type or projectObligeeAging and Adult Services Administration of the State of Washington Department of Social and Health ServicesBond classFidelity BondCategoryOtherBondSecure Personal Funds of Nursing Facility ResidentsPlain descriptionThis bond is required for nursing facilities in Washington that hold or manage money belonging to their residents. When a nursing home takes care of personal funds for people living there - such as Social Security check…Who needs this bondLicensed nursing facility operators in Washington State who hold, manage, or safeguard residents' personal funds must obtain this bond. This applies specifically to facilities that accept written authorization from resi…
