The Bid Bond prequalifies the principal and provides the necessary security to the owner or general contractor, or âobligeeâ, guaranteeing that the principal will enter into the contract, if it is awarded.
Personal funds. Nursing Homes. Some people enter a nursing home as private pay residents, using a combination of resources to pay their expenses and eventually spend down their resources and meet the requirements for Medicaid to pay for care. Some nursing homes require payment upon admission. If a resident pays for nursing home care with personal funds and depletes their resources, they may then qualify for Medicaid. In such cases, the state of Texas reimburses the nursing home for up to 3 months before Medicaid approval. The nursing home then refunds personal payments according to specific time limits.
a majority of people over age 65 will require some type of long term care services during their lifetime and over 40 percent of people will need a period of care in a nursing home according to the centers for medicare and medicaid servicesedicare seniors and their families facing a near term need for a nursing home should first determine whether medicare will cover at least a portion of the stay the medicare program provides coverage for rehabilitation but not long term care