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.
There is both an income and an asset test to qualify for Medicaid long term care services. In general, these tests are applied for nursing home services but these same tests may also be used to qualify individuals for home or community-based Medicaid services as well.edicaid has limitations on the amount of assets a person may own and the amount of income a person can receive each month before they are eligible. Eligiblity and services vary from state to state. âº Find Medicaid Planning Services in your area. Medicaid is funded and administered through a state-federal partnership.