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.
If you are in a nursing home, and your spouse is not still living at home, you will have to use all your income to pay the bill there before Medicaid will pay. You cannot use any of your money to pay for your house (taxes, insurance, etc.).OUR HOME IS EXEMPT This means that for Medicaid purposes your house (up to $500,000 in equity) is not counted as an asset when you apply for Medicaid. Therefore you can keep your home and still have Medicaid pay for your nursing home costs.