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.
Income Limits. If you receive SSI, you are already eligible. Otherwise, your monthly income in 2014 must be no more than $2,163, or $4,326 for a couple who are both trying to qualify for Medicaid-paid long-term care.If you are or will be moving to a nursing home, you will be required to contribute most of your income to your care.You are allowed to keep a small amount of money, called a âpersonal needs allowanceâ (PNA). In 2014, Floridaâs PNA for nursing home residents is $35 per month.ncome Limits. If you receive SSI, you are already eligible. Otherwise, your monthly income in 2014 must be no more than $2,163, or $4,326 for a couple who are both trying to qualify for Medicaid-paid long-term care.