Assurance of Financial Security for Funds Held for Nursing Home Residents
Assurance of Financial Security is Required for Nursing Home Facilities
§483.10 Resident rights. Assurance of Financial Security is Required for Nursing Home Facilities. The resident has a right to a dignified existence, self-determination, and communication with and access to persons and services inside and outside the facility. A facility must protect and promote the rights of each resident, including each of the following rights:
(a) Exercise of rights.
(c) Protection of resident funds.
(7) Assurance of financial security. The facility must purchase a surety bond, or otherwise provide assurance satisfactory to the Secretary, to assure the security of all personal funds of residents deposited with the facility.
For questions please call Attorney Ken LaBore Minnesota Elder Abuse and Neglect Attorney at 612-743-9048.
More information about assurance of financial security and Medicare / Medicaid Billing Fraud and other Signs of Nursing Home Abuse and Neglect in Minnesota.