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South Dakota discount medical plan bonds.
$400 flat.
A South Dakota discount medical plan organization must keep a $20,000 minimum surety bond on file with the Division of Insurance under SDCL 58-17E-20. Ours is $400 flat for the $20,000 bond. A quick soft credit check may apply, never a hard inquiry; the bond is issued when you pay.
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Three steps to registered.
Your DMPO registration is waiting on this bond. Here’s the entire process:
Apply once, online
Organization details, owner information, effective date. That’s the application — the only extra step is a one-time consent to a soft credit pull.
Approved
Most are approved as soon as you apply. The credit check is a soft pull that never affects your score. If it needs a second look, one to two business days at most.
E-sign & file with the Division of Insurance
Pay online and receive the executed bond ready to file with your DMPO registration or renewal. Wet-ink originals mailed whenever the state insists.
What it is and who needs it.
What the DMPO bond actually guarantees
South Dakota regulates discount medical plan organizations under SDCL chapter 58-17E, administered by the Division of Insurance. A DMPO sells access to discounted health-care services for a fee, and the state requires a surety bond standing behind the organization’s compliance with the chapter.
Under SDCL 58-17E-20, each registered DMPO must maintain a surety bond in an amount not less than $20,000, in favor of the director and any person damaged by a violation of the chapter’s key provisions. The Division of Insurance may increase the amount case-by-case and will tell you the required figure after reviewing your registration.
A surety bond is one accepted form of security — under SDCL 58-17E-21, a DMPO may instead deposit cash or securities with a market value of at least $35,000. The bond is usually cheaper: you pay the $400 premium rather than tying up $35,000. If the surety pays a claim, you repay the surety.
You need this bond if you’re
One application, issued instantly.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.
Start the application →Common questions.
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DMPO registration, sorted today.
$400 flat, short application, bond issued when you pay. Free until issued.