388-835-0190  <<  388-835-0195 >>   388-835-0200

WAC 388-835-0195

What requirements apply to surety bonds or assigned funds used as security by a provider?

All surety bonds or assignment of funds, offered as security, must be:
(1) At least equal in amount to the determined and/or estimated overpayments minus any withheld payments even if the overpayments are the subject of a good faith dispute;
(2) Issued or accepted by a bonding company or financial institution licensed to transact business in Washington state;
(3) For a term sufficient to cover the time period needed to determine a final settlement and exhaust administrative and judicial remedies;
(4) Forfeited to DSHS if the term proves insufficient and the bond or assignment is not renewed for an amount equal to any remaining overpayment in dispute;
(5) Paid to DSHS if a properly completed final cost report is not filed by the provider or if financial records supporting this report are not retained and available to the auditor; and
(6) Paid to DSHS if the provider does not pay the refund owed within sixty days following receipt of a written demand to do so or the conclusion of any administrative or judicial proceedings held to settle the dispute.
[Statutory Authority: RCW 71A.20.140. WSR 01-10-013, ยง 388-835-0195, filed 4/20/01, effective 5/21/01.]
Site Contents
Selected content listed in alphabetical order under each group