VGM launches bid bond

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Thursday, March 21, 2019

WATERLOO, Iowa – VGM Insurance Services has developed a new Competitive Bid Bond for HME providers who plan to bid in the next round of the bid program. CMS requires all bidders to obtain bid surety bonds from an authorized surety in the amount of $50,000 for each area in which they submit a bid. “The DMEPOS competitive bidding program is expected to open as early as June 2019 so providers should begin their preparations now if they intend to consider placing a bid in one or more of the 130 competitive bid areas (CBAs),” said Mark Higley, vice president of regulatory affairs at VGM in a press release. “As in all previous rounds, VGM stands ready to assist in all facets of the program, including providing those impacted with education, tips and tools, as well as easily accessible surety bonds for those intending to participate before the bid window closes.” VGM Insurance has partnered with Lexon Insurance Company since 2009.