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.
U.S. News's Best Nursing Homes indicates which nursing homes in each state accept Medicare. Medicaid. If an individual lacks enough savings to cover the cost of a nursing homeâor if the cost of a protracted stay exhausts their assetsâthey can become eligible for assistance from Medicaid. To qualify for Medicaid, applicants must have minimal assetsâno more than $2,000 in cash and cash equivalents such as bonds and IRAs.