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.
Paying for Long-term Care. Most people who move into a nursing home begin by paying for their care from private funds and out-of-pocket. In order to qualify for Medicaid and have the government pay for it, you must first use up all your assets and resources. After that, you can become eligible for the federal program.inding ways to pay for a nursing home is stressful. And choosing the right one for you or a loved one is twice as difficult. If you're starting a search for one, use this list to help guide the decision: 1  Include the person who will live there.