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Rhode Island Discount Medical Plan Organization Bond

Who needs a Rhode Island Discount Medical Plan Organization Bond?

If you are a discount medical plan organization in the State of Rhode Island you are subject to licensing and license renewal requirements. Pursuant to R.I. Gen. Laws § 27-74-6, the Rhode Island Office of the Health Insurance Commissioner requires that you maintain a $50,000 surety bond.


Why is the Discount Medical Plan Organization Bond required?

The bond’s purpose is to ensure all providers follow all relevant statutes and laws in the State of Rhode Island.


How do I know this is the bond I need?

If you are based in Rhode Island and have been told you need a Discount Medical Plan Bond, a Medicaid Bond, or a Medicaid Surety Bond, you are in the right place. If you have questions, we recommend contacting the Rhode Island Office of the Health Insurance Commissioner directly.

General Questions
What is a surety bond? 
What is a surety bond?

A surety bond is a three-party agreement among a principal, an obligee, and a surety.

The bond formalizes the principal's obligation to the obligee. The surety guarantees that the principal will fulfill their obligation.