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.
Medicare generally doesn't cover long-term care stays in a nursing home. Even if Medicare doesnât cover your nursing home care, youâll still need Medicare for hospital care, doctor services, and medical supplies while youâre in the nursing home. Find out what nursing home care Medicare does cover, and how Medicare prescription drug coverage (Part D) works if you live in a nursing home or other institution. There are several other ways you can pay for nursing home care: