Tag: Bid Bond

One of the many items to check off on the to-do list for HME providers planning to submit bids in Round 2021 of competitive bidding is obtaining $50,000 bid bonds for each CBA in which they plan to submit a bid. The team at VGM Insurance Services, which has partnered with Lexon Insurance Company to offer bid bonds, recently offered some clarifications about the new requirement.What's a bid bond?Bid bonds are in addition to the surety bonds required to participate in the Medicare program, says Leanne...