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.
Many people believe that Medicare covers nursing home stays. In fact Medicare's coverage of nursing home care is quite limited. Medicare covers up to 100 days of skilled nursing care per illness, but there are a number of requirements that must be met before the nursing home stay will be covered. The result of these requirements is that Medicare recipients are often discharged from a nursing home before they are ready.