Healthcare organizations have unique surety bond needs. Competition and additional capacity have created a commercial surety marketplace that is hungry for strong, stable accounts such as those provided by healthcare systems, hospitals, and health plans. Significant savings can be found by replacing letters of credit and/or testing the marketplace on existing programs.

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Types of Healthcare Bonds

Healthcare-Specific Bonds
  • Patient Trust/Long-term Care
  • Nursing Registry License
  • Pharmaceutical Wholesale License
  • Third-Party Administrator License
  • Medicare DMEPOS
  • Service Contract Performance
  • State-Specific Medicaid Provider
  • Medicare ACO Performance
  • Medicaid Vendor Performance (MCO)
Other Common Bonds
  • Notary/Notary E&O
  • Higher Education/Degree Granting License
  • Hazardous/Radioactive Material License
  • Utility Payment Guarantee
  • Subdivision/Construction
  • Appeal/Other Judicial Bonds
  • Unemployment Tax/Compensation
  • Self-Insured Work Comp/PFML
  • Insurance Deductible

Replacing Letters of Credit

There are many types of obligations which healthcare organizations secure with letters of credit during the course of regular business. Many of these obligations can be replaced with bonds. Our team has been able to achieve consistent savings over letter of credit pricing for our clients; sometimes as much as 50%. Other advantages to using surety bonds include:

  • Surety bonds have no impact on credit capacity – put your line of credit to better use!
  • Surety bonds are considered off-balance sheet obligations
  • Surety bonds typically require proof of default instead of payment on demand

EPIC Healthcare Surety Experience

  • Healthcare clients comprise over one-quarter of EPIC’s core commercial surety portfolio
  • Place over $5 million premium annually for healthcare organizations; and
  • Have over $600MM in outstanding liability for health plans and ACOs
  • Negotiated with FL Medicaid for annually renewable bonds that limited liability to each region
  • Negotiated bond forms with CMS for ACOs to allow for annual billing on multi-term obligations
  • Wrote the approved language changes for AZ Medicaid’s performance bond form that restricted stacking liability
    and allowed for annual billing
  • Negotiated the use of a surety bond with the State of Colorado for professional liability self-insurance

EPIC Healthcare Surety Team

EPIC is the only national broker to maintain surety personnel dedicated to the healthcare industry.

Robin Amstutz places the surety business for all healthcare program accounts, regardless of location. As a result, she has an extensive knowledge base as well as a sizable book of healthcare clients that garners respect and drives results for our clients. Robin is an active member of the National Association of Surety Bond Producers, where she holds the position of Chair of the Commercial Surety Committee, as well as serving on the Leadership and Professional Development Committees. Robin also holds the position of co-president for the Midwest Chapter of Women in Surety.

Tim Bowen places all healthcare-related transactional surety business and oversees the management and handling for EPIC’s healthcare program accounts. Tim sits on the User Advisory Council for Surepath, our bond processing system, and is our practice’s liason for IT and Finance. Tim is an active member of the National Association of Surety Bond Producers, where he serves on the Automation and Technology and the Government Relations Committees.

Our Leaders

Robin Amstutz
Robin Amstutz

Senior Vice President – Chicago, IL

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Tim Bowen

Assistant Vice President – Chicago, IL

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